Behrman Capital, a private equity investment firm based in New York and San Francisco, announced that its portfolio company Pelican Products, a design and manufacturer of high-performance protective case solutions and advanced portable lighting systems, has acquired U.K.-based Cool Logistics, a provider of temperature controlled packaging solutions. Financial terms of the transaction have not been disclosed.
Cool Logistics will join Minnesota Thermal Science, which Pelican acquired in January 2013, under the Pelican BioPharma division. The combined companies will offer a large global footprint with strong local sales, distribution and customer service support.
Specializing in the design, test and qualification of temperature controlled packaging solutions, Cool Logistics is dedicated to fulfilling the complex needs of the global healthcare industry. The company's product range includes dry-ice shippers, chilled and room temperature solutions around the SHERPA brand of products, the soon to be released CHRONOS Advance high performance range and bulk freight forwarding solutions leveraging the COOLPALL brand. Off-the-shelf solutions, customized designs and third party solutions NANOCOOL (utilizing advanced push button evaporative cooling technology) and SILVERSKIN (Thermal covers) also are available, as well as a variety of sizes from small mailers to pallet accepting shippers.
Grant Behrman, managing partner of Behrman Capital, said, "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. With its presence in Europe, Asia and Australia, Cool Logistics will enable Pelican to work with customers globally, accelerating the company's long-term growth in the process."
Lyndon Faulkner, president and CEO of Pelican Products, said, "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. 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."
The Pelican BioPharma line offers a full suite of products and services designed with longevity, reusability and sustainability in mind, providing the safe transport of pharmaceuticals, tissue, diagnostics/clinical trials and blood supplies. Products include the reusable CREDO CUBE, which protects payload contents at defined temperatures longer than any other passive thermal shipper. Additionally, the CREDO XTREME full pallet which holds 890 liters and the half pallet which holds 406 liters, each provide 35% more payload space than the closest competitor. Recent developments include the extension of the CREDO DURACUBE family of products and the introduction of the CREDO PROMED product line, extension of service centers around the world, and the release of the next generation of its asset management software.