AJF Growth Consultants

Executive Summary

Pelican Water grew from a niche digital seller into a multi-channel platform with 342% revenue growth, 388% EBITDA growth, and a 12.5x exit to Pentair Corporation. The transformation combined supply chain mastery, channel expansion, and breakthrough digital marketing—proving out the 5 Pillars growth model that has since been applied to other platforms.

Deal of the Year, Buyouts Magazine 2019 — demonstrating the power of systematic platform transformation.

The same playbook that scaled Pelican Water now applies to sponsors, family offices, and founders seeking durable, platform-level growth in home services and beyond.

Challenge & Starting Point

When Pelican Water Systems was acquired, it faced critical limitations that capped growth potential:

Single marketing channel (Google Ads only)

No CRM system

No sales compensation plan

No performance metrics

Reseller dependency for product sourcing

Limited reach and no in-home service presence

Competitors were rapidly building direct-to-consumer capabilities while Pelican remained stuck as a niche digital-only seller.

Pelican needed an operational overhaul, sales culture, new channels, and a modernized supply chain to scale profitably and prepare for exit.

Strategy & Transformation Overview

The leadership team prioritized implementing Salesforce CRM, creating a data-driven sales and marketing culture with performance metrics and compensation plans, and hiring a world-class digital marketing firm.

Over six years, Pelican was transformed into a branded, multi-channel, tech-enabled platform with scalable infrastructure and breakthrough digital marketing capabilities.

Supply Chain Transformation

From Wholesalers to Global OEM Supply Chain

Transitioned to a five-continent OEM supply chain with Florida assembly operations

Built in-house assembly for same-day shipping (all orders before 2 PM shipped same day)

Negotiated direct manufacturer relationships worldwide

Freed gross margin dollars were reinvested into marketing and new channel development

Enabled rapid engineering changes, private-label production, and channel-specific SKUs

OEM pricing and operational flexibility became the foundation for multi-channel expansion.

Channel Expansion

In-Home Direct-to-Consumer

Launched mobile retail center model, scaled to 8 markets in 24 months, delivering 70%+ gross margins.

Wholesale Channel

Founded Enviro Water Products brand for the plumbing trade, partnering with national wholesalers and top plumbers without cannibalizing DTC sales.

Marketplace & Online Retail

Secured national partnerships with Amazon, Home Depot, Lowe's, and Wayfair, developing channel-specific products to preserve price integrity.

Multi-channel strategy eliminated single-point-of-failure risk while maximizing market coverage.

Marketing & Tech Innovation

Cross-Device Tracking with Google

First in category to attribute both online and offline activity across devices

+30% attribution accuracy improvement

Lead Generation Expansion

PPC, SEO, affiliates, social, email, remarketing, offline media

Doubled qualified lead volume in 18 months

CRM Integration

Salesforce integrated across all customer channels for full-funnel visibility

Operational + Marketing Synergy: Paired lead growth with operational capacity to maximize conversion

Results

From niche seller to category-leading platform with industry-defining exit multiple

Transformation outcomes:

Revenue: 342% growth over 6 years

EBITDA: 388% growth over 6 years

Margins: 67%+ sustained gross margins

Exit: 12.5x multiple strategic sale to Pentair Corporation

Platform: Multi-brand, multi-channel distribution with national reach and scalable infrastructure

Lessons Learned: The 5 Pillars Framework

Pelican Water became the proving ground for the **5 Pillars of Scalable Platforms**:

Customer Acquisition – Diversified, data-driven lead channels

Sales Execution – High-conversion in-home & online systems

Operational Excellence – Supply chain mastery, in-house assembly operations & scalable infrastructure

Tech Enablement – CRM integration, full digital platform, & marketing attribution

White Glove Customer Experience – Consistent, trust-building service standards

When aligned, these pillars create a repeatable, data-driven growth flywheel—proven first at Pelican, then applied across multiple platforms.

Key Takeaways

How did Pelican achieve multi-channel growth?

By building new wholesale, in-home, and online retail channels without cannibalizing core online sales. Each channel was designed with specific products and pricing to maintain integrity across touchpoints.

How did supply chain changes impact EBITDA?

OEM pricing, high-volume assembly, and same-day fulfillment increased margins and operational efficiency while providing the flexibility to serve multiple channels profitably.

How did Pelican innovate in digital marketing?

It pioneered cross-device tracking with Google and diversified lead channels, doubling qualified leads in 18 months. The key was attribution accuracy that allowed precise ROI measurement across all channels.

The combination of supply chain control, channel diversification, and marketing innovation created sustainable competitive advantages that competitors couldn't easily replicate.

Conclusion

At AJF Growth Consultants, we help operators replicate disruptive channel shifts. Just as Pelican Water moved from commodity wholesaler sourcing to a high-margin direct-to-consumer platform, we guide sponsors in building scalable marketing engines, forging e-commerce and wholesale partnerships, and reengineering supply chains to capture margin and eliminate dependency.

This case study proves that systematic transformation across all five pillars creates enterprise value that commands premium exit multiples.

Pelican Water Case Study – Driving Multi-Channel Growth to Strategic Exit