Startup Pelican Life Sciences Acquires Three More Companies
Posted June 27, 2006
CHARLOTTE, N.C. — Pelican Life Sciences
is putting some of its $100 million war chest to work.
The startup company said Tuesday it has acquired three companies. Financial details of the deals were not disclosed.
Pelican, which was launched in 2005, is focused on life science reagents and specialty consumables.
Pelican as bought Continental Laboratory Products, a manufacturer of disposable fluid handling plastics, reagents and instrumentations used in molecular biology research. Continental is based in San Diego, CA. It operates manufacturing operations in Baja, Mexico, and operates distribution facilities in San Diego, Charlottesville VA and the United Kingdom.
Pelican also acquired PGC Scientifics Corporation, which is based in Frederick MD. PGC is a manufacturer and distributor of molecular biology and scientific product consumables. Labcor Products, a wholly owned manufacturing subsidiary of PGC, is also part of the deal.
The other acquisition is Kemp Biotechnologies, which also is located in Frederick Md. Kemp provides cell culture, protein express and protein purification services on a contract basis.
"These three new acquisitions combined with our acquisition of PML Microbiologicals in December of 2005, form a solid foundation for Pelican Life Sciences," said Bill Baugh, the chief executive officer of Pelican. "Pelican Life Sciences now holds a molecular biology platform and a microbiology platform and we plan to make significant investments in each of these companies to accelerate product development and enhance growth opportunities."
Pelican emerged from stealth mode in April with $100 million in investment capital from Grotech Capital Group, which has some $1 billion under management, and Ferrer Freeman & Company, which manages a $900 million private equity fund focused on the healthcare industry.