Pelican Products Buys Hardigg Industries
Pelican Products, Inc. of Torrance, Calif., said today it has acquired long-time competitor Hardigg Industries of South Deerfield, Mass., which Pelican described as the world's largest manufacturer of roto molded protective cases. The transaction is valued at approximately $200 million and "believed to be the largest acquisition in the history of the protective case industry," according to Pelican's announcement, which said the acquiring company 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 of Pelican. "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."
The resulting company has more than 1,500 employees, operations in 12 countries, and six manufacturing locations in Europe and North America. Pelican said the Hardigg brand name, identifying roto molded cases since the company's founding in 1954, will continue to identify the company’s high-end roto molded shipping cases. "The reputation of the Hardigg brand and quality of its products, people and processes make it an ideal partner," Faulkner said. "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."
Hardigg's chairman, Jamie Hardigg, said the acquisition offers more opportunities to employees, expands the product line, and enhances Hardigg's global reputation. "We're excited that the combination of our companies creates a global industry leader well poised for continued growth," said Jamie Hardigg, who will end his day-to-day management role but will serve on Pelican's board of directors.