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Pelican Life Sciences Secures $100 M Funding for Acquisitions
Pelican Life Sciences has secured $100 million in private equity funding for acquisitions and development and has completed its first acquisition.
Headquartered near Charlotte, NC, Pelican Life Sciences mission is to facilitate life science research by providing the highest quality products for discovery and detection. Pelicans targeted product mix includes life science reagents and specialty consumables. Focused segments include microbiology, molecular biology and non-commodity, specialty consumables.
The funding commitment will be used to acquire premier companies with proven track records of providing high-quality, differentiated products to support the pharmaceutical, biotech, and academic research market.
Pelican is also expecting to make significant investments in the acquired entities to support product development, streamline manufacturing operations and expand sales and marketing capabilities.
In December 2005, Pelican acquired its first company, PML Microbiologicals, Inc. PML has provided microbiological products to the clinical and research markets for over 35 years. With ISO 13485 certified manufacturing and distribution facilities in both the United States and Canada, PML is a leading provider of culture media and microbiological products throughout North America.
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