Continuation Fund Provides Incremental Capital to Accelerate Growth and Support Future M&A New York, NY,…
David H. Parker Elected Board Vice Chairman
NEW YORK, August 14, 2006 — Behrman Capital, a private equity investment firm based in New York and San Francisco, announced today that Lyndon J. Faulkner has been named CEO of Pelican™ Products, Inc. by its Board of Directors. He succeeds David H. Parker, who has retired from his role as Chief Executive Officer and was elected Vice Chairman of the Company’s Board. Pelican is a global leader in the design, development and manufacture of unbreakable, watertight protective cases and technically advanced professional flashlights, and a Behrman Capital portfolio investment. Both appointments are effective September 1, 2006.
“We are very pleased that Lyndon Faulkner is joining the team at Pelican,” said Grant G. Behrman, Managing Partner of Behrman Capital. “Lyndon is a seasoned operating executive with a remarkable track record for creating growth, most recently at Microsoft where he served as General Manager of the Americas Operations Group. He previously was the CEO of Technicolor Digital Media Group and Chairman and CEO of Nimbus CD International, where he set and reached substantial growth milestones. In fact, it was at Nimbus, a Behrman Capital portfolio investment, that we first worked with Lyndon, where he helped pioneer the market of CD and DVD technology for both home entertainment and computer software use. Our firm has maintained ties with Lyndon for over a decade, and we are pleased to have the opportunity to work with him again.”
“After 34 years at the helm, I have decided it is time for a new Captain,” said David H. Parker, founder of Pelican Products. “I am pleased that we have been able to attract an executive of Lyndon’s caliber and I am very confident in his ability to take the company to the next level. The future is very bright for Pelican, and I am looking forward to continuing on with the company as Vice Chairman.”
“There is probably no other company in the United States with a product line that duplicates the innovation, success and customer loyalty that characterizes the Pelican line of professional products,” said Lyndon Faulkner, CEO. “The Pelican team is entrepreneurial, creative and nimble and has consistently found new applications for their case and flashlight technology. I look forward to working with everyone at Pelican to build on this foundation and aggressively expand the business both in existing as well as new markets.”
As General Manager of Microsoft Corporation’s Americas Operations Group, Mr. Faulkner supported several major product launches including XBOX and Windows XP and made substantial contributions to the company’s operational excellence in the United States, Canada and Latin America.
Mr. Faulkner began his career at Nimbus CD international in 1987, first in numerous sales and operational capacities and taking on the role of President and CEO in 1992. He oversaw strong growth at Nimbus and worked with Behrman Capital to take the company public on the NASDAQ market in 1995. Nimbus was later sold to Carlton Communications, which merged Nimbus with its Technicolor subsidiary.
About Pelican Products Based in Torrance, California, Pelican Products, Inc. was founded by Dave Parker and his wife Arline in 1976 as a part time mail order business, selling dive buoys out of their Torrance garage. From its humble beginnings, Parker grew Pelican into a thriving, American manufacturer with over 500 employees worldwide and distribution centers in Europe, Canada, Japan and Australia. For over 20 years, Pelican’s extensive lines of technically advanced, safety approved flashlights and high-impact, watertight, equipment Protector™ Cases have stood as the gold standard around the world. Their winning customer-service-oriented philosophy is often imitated but never equaled, and 3 is illustrated by their Legendary Lifetime Guarantee of Excellence “You break it, we replace it…forever”™. For more information, please visit the Pelican Products website at www.pelican.com.
About Behrman Capital Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused primarily in four industries: health care, specialty manufacturing, outsourcing, and information technology. The firm currently has a combined capital base of $1.8 billion. For more information, please visit the Behrman Capital website at www.behrmancap.com.
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For Behrman Capital:
David Lilly / Michael Freitag
Kekst and Company