“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,” Chief Executive Phil Gyori said in a statement. “I look forward to rolling up our sleeves, working alongside Platinum’s experienced team, and creating an exciting new chapter in the Pelican story.”
Pelican has 1,400 employees and operates 200,000 square feet of manufacturing and office space in Torrance, where it makes its protective cases. It also maintains 11 other manufacturing sites, 17 service centers and network stations, and 23 sales offices in 25 countries.
Pelican ended last year with nearly $500 million in revenue.
At the onset of the pandemic, Pelican started making airtight cases to house ventilators during transport to hospitals, while its temperature-controlled storage products were used to shuttle Covid-19 vaccines and patient samples during the Moderna Inc. and Pfizer Inc. clinical trials. The company is also involved in ongoing vaccine distribution efforts after retrofitting some of its products to accommodate the manufacturers’ extremely low temperature requirements.
Platinum Equity has more than $25 billion in assets under management and a portfolio of approximately 50 companies, including Playa Vista-based Centerfield and Winc, as well as Unical Aviation in the City of Industry.
