Cool Logistics specializes in the supply, design, test and qualification of temperature controlled packaging used in the medical and pharmaceutical sectors. The company was founded in 2000 and is headquartered in Bedfordshire, UK (www.cool-logistics.com).
Cool Logistics will join Minnesota Thermal Science (MTS), which Pelican acquired in January 2013, under the Pelican BioPharma division. MTS provides temperature controlled packaging products used for the transportation of pharmaceuticals, tissue, biologics, diagnostics and blood. MTS is based in Plymouth, MN (www.mnthermalscience.com).
The combination of Cool Logistics and MTS will offer a large global footprint with strong local sales, distribution and customer service support. “Cool Logistics is an ideal add-on acquisition for Pelican’s growing BioPharma division. International demand for temperature controlled shipping solutions continues to expand, particularly in the health care sector,” said Grant Behrman, Managing Partner of Behrman Capital. “With its presence in Europe, Asia and Australia, Cool Logistics will enable Pelican to serve customers globally, accelerating the company’s long-term growth in the process.”
Pelican Products is a designer and manufacturer of both high-performance case solutions and advanced portable lighting systems. The company’s products are used by professionals in demanding markets including fire safety, law enforcement, defense & military, aerospace, entertainment, industrial and consumer. The company, headquartered in Torrance, CA, operates in 19 countries, with 26 offices and five manufacturing facilities across the globe (www.pelican.com).
“With this acquisition and the recent integration of Minnesota Thermal Science, we’re now positioned to provide customers with the industry’s widest range of packaging solutions leveraging a variety of technologies,” said Lyndon Faulkner, President and CEO of Pelican Products. “We are grateful for Behrman Capital’s invaluable support during this acquisition, and we look forward to working with the Cool Logistics team to continue building our BioPharma business.”
Behrman Capital invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The firm’s investments are primarily focused in five industries: health care, specialty manufacturing, business-to-business outsourcing, defense and information technology. Behrman Capital currently has in excess of $3 billion in assets under management. The firm was founded in 1991 and has offices in New York and San Francisco (www.behrmancap.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-7-14