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Synergy VideoTo our Customers, Employees and Vendors:

Happy New Year. I’m very proud to announce that in a deal approximating $200 million, supported by our private equity group, Behrman Capital, Pelican Products has acquired Hardigg Industries, the Massachusetts based roto molding case company.

While the two companies have had a historic rivalry, on detailed review there is a much bigger synergy with Hardigg and Pelican joining forces. In fact, when you consider Pelican’s capabilities of automated injection molding, and contrast that with Hardigg’s roto molding and customization skills, it’s clear that our strengths are extremely complementary. An example of the synergy is in our selling models. Pelican has built a diverse base of distribution in commercial and industrial markets, while Hardigg has deep selling channels within the military. Clearly we can benefit by leveraging each other’s sales and distribution channels. At the same time, Pelican has mastered automated manufacturing to better support customer requirements around the world. Many of these processes will be leveraged across Hardigg’s manufacturing operations.

So what will the combined entity look like? It will employ over 1,500 people in 23 offices and 6 manufacturing facilities in 12 countries around the world. It will truly be the best source for supporting any customer’s protective case needs. In addition, we will build new advanced lighting products, so whether you’re a case or lighting customer, we will have the largest capability in the world to support your requirements. Because we are well capitalized for future growth, in just a few short years Pelican will drive to become a half a billion dollar business.

Product innovation will accelerate in this new enterprise, with more than 60 engineers developing products that will fit our new unified strategic plan, deploying new technologies and designs for the future growth of all involved. This will represent a win for our core product offering: a permanent, more efficient and effective packaging solution with sustainable advantages over corrugated boxes, wood crates, aluminum cases and other inferior containers.

I look forward to meeting and working with you all to make this new enterprise a huge success for everyone involved.

Respectfully,

Lyndon Faulkner
President and CEO
Pelican Products, Inc.

 

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