Behrman Capital Acquires Pelican Products, Inc. in $200 Million Transaction.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Behrman Capital, a private equity investment firm based in New York and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , announced today that it has acquired privately-held Pelican(TM) Products, Inc., a global leader in the design, development and manufacture of unbreakable, watertight protective cases and technically advanced professional flashlights. The Company's senior management is also participating in this transaction, which has an aggregate value of approximately $200 million. Based in Torrance, California, Pelican Products cases and flashlights are complementary products sold to a diverse group of industrial, military, OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and , government, and specialty sports end markets throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in many international markets. Founded in 1976 by CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. David H. Parker, the company's earliest products served scuba enthusiasts. The Company's product portfolio has expanded substantially to provide protective cases and highly advanced flashlights for a wide variety of applications. Pelican has revenues of approximately $100 million and employs over 500 people. "Pelican's innovative, high quality products are known the world over for their unique strength and utility in some of the most demanding environments on earth," said Grant G. Behrman, Managing Partner of Behrman Capital. "Dave Parker
"We appreciate Behrman Capital's ability to support Pelican's continued growth while recognizing the value of our own entrepreneurial culture," said David H. Parker, CEO of Pelican Products. "Behrman Capital has a long track record of successfully working with businesses such as ours to take their best qualities, combine them with additional financial and operational expertise, and bring the business to the next level. We're excited to begin the next chapter in Pelican's story of expansion and growth." Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and San Francisco, Behrman Capital was founded in 1992 by Grant G. Behrman and Darryl G. Behrman. The firm invests in management buyouts Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. , leveraged buildups and recapitalizations of established growth companies and provides expansion capital to emerging growth companies. The company's investments are focused primarily in four industries: information technology, contract manufacturing, outsourcing and healthcare. The firm currently has a combined capital base of $1.8 billion. |
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