M&A Deal Summary

Platinum Equity Acquires Pelican Products

On October 19, 2021, private equity firm Platinum Equity acquired consumer products company Pelican Products from American Capital and Behrman Capital

Acquisition Highlights
  • This is Platinum Equity’s 5th transaction in the Consumer Products sector.
  • This is Platinum Equity’s 104th transaction in the United States.
  • This is Platinum Equity’s 17th transaction in California.

M&A Deal Summary

Date 2021-10-19
Target Pelican Products
Sector Consumer Products
Buyer(s) Platinum Equity
Sellers(s) American Capital
Behrman Capital
Deal Type Secondary Buyout
Advisor(s) Credit Suisse Investment Banking (Financial)
Latham & Watkins (Legal)

Target

Pelican Products

Torrance, California, United States
website
Pelican Products is a designer and manufacturer of high performance protective cases, temperature controlled packaging solutions, advanced portable lighting systems and rugged gear for professionals and outdoor enthusiasts. Pelican's products are used by professionals in the most demanding markets including fire safety, law enforcement, defense / military, aerospace, entertainment, industrial and consumer. Pelican products are designed and built to last a lifetime. Pelican Products was founded in 1976 and is based in Torrance, California.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 128 of 140
Sector (Consumer Products) 5 of 5
Type (Secondary Buyout) 32 of 37
State (California) 17 of 17
Country (United States) 104 of 111
Year (2021) 14 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 PCI

Singapore, Singapore

PCI is an electronics manufacturing services provider, offering design, manufacturing, testing, and supply chain services to global customers. The business acts as an EMS provider for diverse end markets, including automotive, industrial equipment, commercial, consumer/lifestyle, and medical. PCI was founded in 1972 and is based in Singapore.

Sell $306M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Orbit

Bountiful, Utah, United States

Orbit is a provider of residential watering solutions whose mission is to bring smart technology to homeowners, landscape professionals, and farmers across the globe. The company serves markets spanning six continents and 40 countries, and for decades has been a worldwide leader in designing and building innovative water optimization products. Orbit is based in Bountiful, Utah.

Sell $480M

Seller(S) 2

SELLER

American Capital

website


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 194 of 194
Sector (Consumer Products) 13 of 13
Type (Secondary Buyout) 71 of 71
State (California) 30 of 30
Country (United States) 186 of 186
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-22 Transtar Industries

Cleveland, Ohio, United States

Transtar Industries is a distributor and remanufacturer of automotive aftermarket transmission repair parts and manufacturers of automotive refinishing products. Transtar Industries was founded in 1975 and is based in Cleveland, Ohio.

Sell -
SELLER

Behrman Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Behrman Capital is a private equity firm focused on management buyouts, leveraged buildups and recapitalizations of established growth companies. Areas of interest include healthcare, defense, specialty manufacturing, business to business outsourcing, and information technology. Behrman looks to invest in the range from $25 to $125 million of equity capital in companies generating sales of $25 to $250 million. Behrman Capital was formed in 1991. The Firm is based in New York City with an additional office in San Francisco.


DEAL STATS #
Overall 20 of 22
Sector (Consumer Products) 2 of 2
Type (Secondary Buyout) 8 of 10
State (California) 2 of 2
Country (United States) 20 of 22
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Shur-Co

Yankton, South Dakota, United States

Shur-Co is a manufacturer of innovative cargo covering and cargo control systems and related accessories for the transportation industry. Customers trust the Company’s family of premium brands to protect and secure valuable cargo, comply with regulations, and minimize risks to drivers and roadways. The Company’s product offering serves applications tied to the agriculture, construction, waste, flatbed, and rail industries. Shur-Co is based in Yankton, South Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-04 Brooks Equipment

Charlotte, North Carolina, United States

Brooks Equipment is a distributor of first response fire protection equipment and related parts. Brooks Equipment operates via an extensive network of 16 distribution centers nationwide, through which it offers more than 200,000 products across every major fire and life safety brand. Brooks Equipment was founded in 1941 and is based in Charlotte, North Carolina.

Sell -