Press Release

Mesirow Advises AB Airbags, Inc. on its Sale to Shur-Co, a Portfolio Company of Behrman Capital

  • Rick Weil (Managing Director) and Chris Yike (Director) served as transaction leads

  • AB Airbags’ successful sale to Shur-Co highlights Mesirow’s expertise and relationships within the packaging sector

CHICAGO, May 23, 2024 – Mesirow is proud to announce that it served as the exclusive financial advisor to AB Airbags, Inc. (“AB Airbags”, “AB”, or the “Company” on its sale to Shur-Co (“Shur-Co), a portfolio company of Behrman Capital.

Headquartered in Carlsbad, California, AB Airbags provides TUFFY inflatable dunnage airbags to regional and nationwide shippers to protect their products from damage during transport. Since 2012, AB Airbags has been an innovator in the protective packaging space, working closely with customers to design unique and effective protective transit packaging / cargo securement products, solutions, and accessories. The Company’s line of high-quality dunnage products provides a convenient, low-cost-to-high-value, and environmentally sustainable option for companies looking to simplify their transit packaging needs. AB Airbags serves a diverse range of customers across numerous industries and utilizes multiple stocking warehouses that are strategically located throughout the US, to reduce lead times and freight costs.

“AB Airbags is an amazing entrepreneurial success story,” said Rick Weil, Managing Director at Mesirow. “Doug Pomeranz and his team built AB Airbags from a startup in 2012 to a sophisticated leader in cargo securement and transit packaging solutions. Combining with Shur-Co is an exciting next chapter for the AB Airbags’ growth story.”

Doug Pomeranz, Founder and CEO of AB Airbags commented, “Mesirow’s relationships and invaluable support during this transaction proved essential. Their extensive network and profound comprehension of the packaging sector played a pivotal role in pinpointing the perfect partner for AB Airbags.”

“We deeply appreciate our long-term partnership with AB Airbags,” said Chris Yike, Director of Mesirow Investment Banking, “we are confident that the combination with Shur-Co will only enhance the Company’s market position and amplify AB’s growth potential.”

The sale of AB Airbags represents another successful packaging assignment completed by Mesirow Investment Banking. Mesirow is one of the most active advisors in the packaging sector, having completed over 200 transactions in the last 25 years. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep longstanding relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of its clients.

About Mesirow 
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com, follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About AB Airbags, Inc
AB Airbags, headquartered in Carlsbad, California 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 operates a diversified and flexible supply-chain model that utilizes a combination of exclusive overseas suppliers and multiple stocking warehouses across the U.S. For more information, visit www.abairbags.com.

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 Shur-Co 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.

Nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy an interest in any Mesirow investment vehicle(s). Mesirow Financial, Inc. is not affiliated with AB Airbags, Inc., Shur-Co or their affiliates. Past performance is not indicative of future results. Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc. © 2024. All rights reserved. Securities offered through Mesirow Financial, Inc. member FINRA, SIPC.

2022 Crain’s Best Places to Work (Received August 2022 reflective of previous 12 months – Licensing fees paid post award for use of the ranking). Best Companies Group (BCG), an independent workplace excellence research firm, conducted a two-part survey. Part one, consisted of an employer questionnaire, used to collect information about benefits, policies, practices, and other general information. Part two was a confidential 77-question employee survey used to evaluate local employee’s workplace experience and culture. Rankings and/or recognition by unaffiliated rating services and/or publications are not indicative of a firm’s future performance nor do they evaluate the quality of services provided to clients or guarantee that he/she will experience a certain level of results if Mesirow is engaged, or continues to be engaged, to provide investment advisory services, nor should they be construed as a current or past endorsement of Mesirow by any of its clients.

2023 Barron’s Top RIAs (Received September 2023 for the year 2022 – Licensing fees paid post award for use of the ranking). In order to be considered for the Barron’s 2023 Top RIA Firms list, applicants were required to complete a 145-question survey, with the firm’s ADV informing the majority of responses. Firms were also required to meet a number of other specified requirements to be eligible for inclusion. Firms were ranked based on various qualitative and quantitative factors, including assets managed, the size and experience of teams, regulatory records of the advisors and firms, technology spending, staff diversity, organic and M&A growth, client segmentation as well as succession planning.

 

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