Pelican Products, a portfolio company of Behrman Capital, has acquired Minnesota Thermal Science, a manufacturer of temperature controlled transportation products. Minnesota Thermal Science will become part of Pelican’s BioPharma division.
Minnesota Thermal Science (MTS) is provides temperature controlled packaging products used for the safe transportation of pharmaceuticals, tissue, biologics, diagnostics and blood. The company is based in Plymouth, MN (www.mnthermalscience.com).
“MTS is a tremendous addition to the Pelican platform. Demand for temperature controlled shipping solutions is expanding, and with global distribution and award-winning products, the enhanced BioPharma division will be a key driver of Pelican’s long-term growth,” said Grant Behrman, Managing Partner of Behrman Capital.
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 the most 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).
“We are extremely excited about the acquisition of MTS, which strengthens our current customer base, distribution channels and engineering expertise in the pharmaceutical and life science industries. BioPharma now offers an unmatched range of the most advanced temperature controlled packaging solutions, and we are already planning an accelerated product development program that will further enhance our solution set and associated cold chain services,” said Lyndon Faulkner, President and CEO of Pelican.
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).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-15-13