PELICAN PRODUCTS, INC. ACQUIRES HARDIGG® INDUSTRIES
Acquisition is the Largest in the History of the Protective Case Industry
Deal Bolsters Pelican’s Product Line and Expands Service Offerings¬†
LOS ANGELES, Jan. 13, 2009 ‚Äď The world’s leading manufacturer of plastic injection molded protective cases, Pelican Products, Inc., today announced the acquisition of long-time competitor, Hardigg Industries, the world’s largest manufacturer of roto molded protective cases, based in South Deerfield, Mass.¬† The transaction, valued at approximately $200 million, is believed to be the largest acquisition in the history of the protective case industry.¬† Pelican Products was supported in the acquisition by the New York and San Francisco based private equity group Behrman Capital.
¬†¬†¬†¬†“Despite the current economic downturn, Pelican Products has continued to grow its position as a global leader in the design and manufacturing of advanced lighting systems and virtually indestructible injection molded cases,” said Lyndon Faulkner, president and CEO, Pelican Products, Inc.¬† “The acquisition of Hardigg is testament to Pelican’s commitment in driving growth of the company and its pledge to leading innovation in the industry.¬† I am extremely excited to conclude this acquisition and to put two global organizations together combining their respective strengths.”
¬†¬†¬†¬†Collectively the new entity will employ more than 1,500 employees.¬† Pelican Products will operate in 12 countries, have 22 offices globally and maintain six manufacturing locations throughout Europe and North America. ¬†It is well capitalized for future growth and will drive to a half billion dollars of revenue over the next few years.
¬†¬†¬†¬†The Hardigg brand name will continue to identify the company’s high-end roto molded shipping cases, leveraging the brand recognition of Hardigg.¬†
¬†¬†¬†¬†Hardigg Industries is the world’s largest manufacturer of roto molded shipping cases used by the military, consumers, public safety officers, the industrial sector, and other professionals.¬† As the first company to manufacture an airtight, watertight and virtually indestructible protective container, Hardigg has been a leader in the design and manufacturing of roto molded protective transport cases since its founding in 1954 by James S. Hardigg.¬† Hardigg also produces the Storm Case® line of injection molded protective cases.
¬†¬†¬†¬†“The reputation of the Hardigg brand and quality of its products, people and processes make it an ideal partner,” added Faulkner.¬† “By bringing together the world’s largest roto molded case manufacturer with the world’s largest injection molded case manufacturer, the greatest beneficiary is the customer.¬† As a result of our new partnership, Pelican will offer customers an unrivaled product range, all from a single source.”
¬†¬†¬†¬†General Peter Pace USMC (Ret.), chairman of Pelican, commented, “The manufacturing strengths of Pelican and Hardigg create a strong combined selling model and market synergy.¬† The acquisition enables us to enhance offerings to our core customers, including the military, while continuing to expand our footprint with other important customer segments.”
¬†¬†¬†¬†Jamie Hardigg, chairman of Hardigg Industries, commented, “By joining the Pelican family we can offer more opportunities to employees, expand our product line and enhance our global reputation.¬† We’re excited that the combination of our companies creates a global industry leader well poised for continued growth.”
¬†¬†¬†¬†Jamie Hardigg plans to cease his day-to-day management responsibilities, but will serve as a member of the Board of Directors for Pelican Products.
¬†¬†¬†¬†John Padian will continue to manage the Pelican organization as COO of Pelican Products and Bill Hamer will continue as COO of Hardigg Industries.¬† Both will report to Lyndon Faulkner, president and CEO of the Pelican Corporation.
About Pelican Products, Inc.
¬†¬†¬†¬†Pelican Products, Inc. is the global leader in the design and manufacture of advanced lighting systems and virtually indestructible cases for protecting valuable equipment with sales offices in Barcelona, Spain - Edmonton, Canada - Tokyo, Japan - Shanghai, China - Florida, USA (for Latin America) ‚Äď Bourg en Bresse, France ‚Äď Ras Al-Kaimah, UAE and Sydney, Australia.¬† The company was acquired in 2004 by private equity firm Behrman Capital.¬† For more information visit www.Pelican.com or www.behrmancap.com.
About Hardigg Industries
¬†¬†¬†¬†Hardigg Cases designs, develops, and manufactures plastic molded cases, shipping containers, custom molded products, and SKID-MATE® cushion products for government, commercial industries, and consumers.¬† Millions of Hardigg containers have been produced to meet a wide variety of applications‚ÄĒincluding stringent military requirements‚ÄĒfor over 50 years.¬† Their high quality rotational- and injection-molded products cushion and preserve delicate equipment from the effects of mechanical shock and vibration, thermal environments‚ÄĒeven exposure to chemical agents and decontamination solutions.¬† For more information visit www.hardigg.com.