Pelican International Inc. acquires Advanced Elements Inc.
Pelican adds to its water sports equipment manufacturing portfolio through acquisition.
Technology / IIoT
LAVAL — On June 14, Pelican International Inc., announced that they had acquired Advanced Elements Inc., an inflatable water sports equipment manufacturer, through its wholly owned subsidiary Confluence Outdoors Inc. This acquisition broadens Pelican’s portfolio in the paddle sports industry, as it now offers products with a complete range of technology, in addition to positioning Pelican as a stronger player in inflatable watercraft development.
“This transaction fits perfectly into our strategy to further consolidate our position as a world leader within the paddle sports industry and to offer high-quality and high-performance products to diverse consumers across all ages and backgrounds who want to explore the world outdoors. The Advanced Elements acquisition carves a path forward to help us become the premier brand of inflatable kayaks and SUPs in more than 50 countries. It’s an ideal addition to our product offering to reach our audience across traditional and e-commerce channels,” said Danick Lavoie, President and CEO of Pelican International.
“Pelican is excited by the acquisition of Advanced Elements as it provides us with another well-respected and recognizable brand to offer our extensive distribution network in order to meet the fast-growing demand for inflatable kayaks and SUPs. I look forward to this next chapter in our growth strategy,” stated Frederic Guay, Senior Vice-president, Global Sales and Marketing, Pelican International.
“At Advanced Elements we have sought and envisioned this partnership for a long time and are thrilled to join the Pelican International Group with a complete and powerful line-up of products. We wanted a business collaboration that would bring us to the next level and leverage our know-how and leadership position in the inflatable and SUP markets, and we could not hope for a better partner. I am confident that this next phase in our venture will define this market as both our passions for technology and our focus on customer needs will set us apart,” said Clay Haller, Co-founder and President of Advanced Elements.
Reed Smith served as legal counsel to Pelican, and Tonkon Torp LLP served as legal counsel to Advanced Elements for this transaction.