Pelican Products, Inc., manufacturer of plastic injection molded protective cases, has acquired long-time competitor Hardigg Industries, manufacturer of roto molded protective cases. 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 Pelicans 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 companys high-end roto molded shipping cases, leveraging the brand recognition of Hardigg.
Jamie Hardigg, chairman of Hardigg Industries, 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.
