YANKTON,
S.D., May 22, 2024 /PRNewswire/ -- Shur-Co, LLC
("Shur-Co" or the "Company"), a leading manufacturer of innovative
cargo covering and cargo control systems and related accessories
for the transportation industry and a portfolio company of Behrman
Capital, today announced that it has acquired AB Airbags, Inc. ("AB
Airbags" or "AB"), a supplier of high-quality dunnage airbags,
accessory tools, and cargo securement products and solutions.
Financial terms of the transaction were not disclosed.
Since its founding in 2012, AB Airbags has been an innovator in
the protective packaging space, working closely with customers to
design unique and effective cargo protection solutions.
Headquartered in Carlsbad,
California, AB's line of dunnage airbags provides a
convenient, low-cost, and environmentally sustainable option for
companies looking to simplify their package shipping needs. AB
Airbags serves a diverse range of customers across industries,
supplying these customers through a national network of warehouses,
which ensures a flexible and reliable supply chain.
Grant G. Behrman, Managing
Partner of Behrman Capital, said, "AB's industry expertise and
leadership, combined with their low-cost, high-value product
portfolio and efficient, asset-light distribution model, makes AB a
very attractive addition to Shur-Co, and we anticipate strong
growth from this platform. This acquisition represents exactly the
type of compelling, strategic expansion we set out to support for
Shur-Co."
Chad Heminover, CEO of Shur-Co,
said, "This is an exciting opportunity for Shur-Co, and we're
pleased to start working with the innovative and entrepreneurial
team at AB Airbags. Shur-Co and AB have complementary product
lines, and this acquisition is a natural expansion of our existing
product categories and a chance to grow our relationships with
existing customers, as we work to meet their cargo control and
protection needs. AB Airbags has a strong reputation, deep
expertise, and a tangible growth outlook, and we're looking forward
to helping them execute on their strategic vision."
Doug Pomeranz, Founder and CEO of
AB Airbags, said, "For more than 10 years, AB has worked in true
partnership with our customers, designing products to fit their
needs, and building a reputation as an innovative and collaborative
partner. Shur-Co will provide us with the resources to be an even
better partner to our existing customers, and scale our business
across new product categories, geographies, and end markets."
Mesirow served as the exclusive sell-side advisor to AB
Airbags.
About Shur-Co
Shur-Co is a leading manufacturer of
innovative cargo covering and cargo control systems and related
accessories for the transportation industry. Customers trust the
Company's family of premium brands to protect and secure valuable
cargo, comply with regulations, and minimize risks to drivers and
roadways. Shur-Co's quality product offering serves applications
tied to the agriculture, construction, waste, flatbed, and rail
industries. Shur-Co has proudly served its customers for 70 years.
For more information about Shur-Co, please visit
www.shurco.com.
About Behrman Capital
Based in New York City, 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 in three industries: Defense
and Aerospace, Healthcare, and Specialty Industrials. The firm has
raised $4.1 billion since inception
and is currently investing out of its seventh fund. For more
information, please visit www.behrmancap.com.
About AB Airbags
Headquartered in Carlsbad, California and founded in 2012, AB
Airbags is the provider of TUFFY inflatable dunnage air bags to
regional and nationwide shippers for protection of their products
from damage during transport. AB Airbags prides itself on being a
highly reliable and easily accessible supplier of top-quality
dunnage air bags and accessory tools. AB continually strives to
provide superior products and services to ensure the highest levels
of customer satisfaction. For more information, please visit
www.abairbags.com.
Contact
Ross Lovern /
Nathaniel Shahan
Kekst CNC
ross.lovern@kekstcnc.com / nathaniel.shahan@kekstcnc.com
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SOURCE Behrman Capital