Shur-Co, a portfolio company of Behrman Capital and manufacturer of cargo covering and control systems, announced Wednesday that it has acquired AB Airbags, a supplier of dunnage airbags, accessory tools and cargo securement solutions.
"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," says Chad Heminover, CEO of Shur-Co. "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."
AB Airbags was founded in 2012 in Carlsbad, California. It maintains a line of dunnage airbags serving a diverse range of customers in a variety of industries.
"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," says Grant G. Behrman, managing partner of Behrman Capital. "This acquisition represents exactly the type of compelling, strategic expansion we set out to support for Shur-Co."
Financial terms of the deal were not disclosed. Mesirow served as the sell-side advisor to AB Airbags.
"For more than 10 years, AB has worked in true partnership with our customers, designing products to fit their needs and building a reputation has an innovative and collaborative partner," says Doug Pomeranz, founder and CEO of AB Airbags. "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."
