Shur-Co Acquires AB Airbags

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
[email protected] / [email protected]

SOURCE Behrman Capital