Pelican Products to be acquired by global investment firm

  • Pelican Products Inc., which operates a manufacturing facility at 147 North Main St. in South Deerfield, pictured, has been acquired for an undisclosed amount by a California-based investment company. Staff Photo/Paul Franz.

Staff Writer
Published: 11/4/2021 6:30:18 PM

SOUTH DEERFIELD — Pelican Products Inc., which operates a manufacturing facility in South Deerfield, has been acquired for an undisclosed amount by a California-based investment company.

Platinum Equity, a private equity investment firm based in Los Angeles, signed a definitive agreement to acquire Pelican Products. The transaction is expected to be finalized by the end of the year.

Pelican Director of Communications Sharon Ward said there is “not much to share” as details of the deal are being ironed out and it is unknown if any employment changes will be made at the South Deerfield facility. The branch has about 400 employees.

“The transaction is yet to be closed,” Ward said in a phone interview. “We are unaware of any specific plans at this time.”

Ward added Platinum Equity has helped similar companies in the past and will most likely finalize the acquirement “within the next 60 days.”

“Platinum has a record for helping companies like Pelican,” Ward said. “They are looking to help us grow and what that looks like is to be determined.”

Pelican, which is headquartered in Torrance, Calif., has 12 manufacturing sites, 17 service centers and 23 international sales offices across 25 countries. The company’s East Coast manufacturing facility is located on North Main Street in South Deerfield.

The South Deerfield facility handles plastic injection and roto-molding processes as well as shared services such as operations, supply chain management, procurement, human resources, information technology, marketing, quality assurance, engineering and project management, according to Pelican’s website.

In a press release, Pelican CEO Phil Gyori said the company is prepared to work with Platinum Equity when the transaction is finalized.

“As we move forward with the backing of Platinum Equity, I’m confident Pelican’s growth trajectory will remain strong, and our products and services will expand to meet the needs of our diverse customer base,” Gyori said in the release. “I look forward to rolling up our sleeves, working alongside Platinum’s experienced team, and creating an exciting new chapter in the Pelican story.”

Platinum Equity, which was founded in 1995, has more than $25 billion in assets and has completed more than 300 acquisitions over the past 25 years. The company has investments in a broad range of industries, including manufacturing, transportation, media and telecommunications, according to the release.

“For more than 45 years Pelican has built a powerful brand with a well-earned reputation among its demanding and loyal customers for making some of the most indestructible products in the world,” Platinum Equity Partner Jacob Kotzubei said in the release. “We are committed to building on the company’s rich heritage and investing in continued innovation.”

Chris Larabee can be reached at clarabee@recorder.com or 413-930-4081.


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