Pelican Energy Partners announced the acquisition of Veridiam from an affiliate of Equity Group Investments. Financial terms of the transaction were not disclosed.
Veridiam is headquartered in El Cajon, California, and specializes in precision fabrication of components and assemblies made from exotic metals. The company serves mission-critical applications across the nuclear, medical, aerospace, defense, and space industries.
Pelican said Veridiam will serve as a platform investment and reflects the firm’s continued focus on the nuclear supply chain. The deal gives Pelican a vertically integrated U.S. manufacturing platform with decades of machining and fabrication experience.
Founded in 1961, Veridiam has built a reputation for engineering excellence and dependable performance in highly regulated sectors. The company manufactures precision-machined components, sub-assemblies, and specialty metal tubing for applications where reliability and quality standards are critical.
Veridiam works with advanced alloys such as titanium, nickel-based superalloys, refractory metals, and specialty stainless steels. Its products are built to meet demanding specifications and safety requirements across industries where component failure can carry significant operational consequences.
Pelican plans to support Veridiam’s modernization and manufacturing expansion. The partnership is expected to help Veridiam meet rising demand across nuclear, aerospace, defense, and medical markets while expanding its portfolio of mission-critical products and engineered solutions.
Veridiam will continue operating under its existing name and brand. The company will also continue to be led by its current management team.
The acquisition aligns with Pelican Energy Partners’ strategy of investing in small to mid-sized, high-growth energy equipment and service companies. The firm has raised over $1 billion in committed capital since its founding in 2011 and is currently investing from its fourth fund, which is dedicated to backing companies that provide critical products and services to the nuclear power industry.
Equity Group Investments is a private investment firm founded by Sam Zell in 1968. The firm focuses on control investments in middle-market operating businesses and partners with management teams to support strategic planning, operational improvements, and growth.
Support: Troutman Pepper Locke served as legal counsel to Pelican Energy Partners. Mayer Brown served as legal counsel to Veridiam.
KEY QUOTES:
“Veridiam sits at the center of our investment thesis and reflects the kind of deal Pelican does best. With the right capital and operating support, we see a clear opportunity to strengthen the business, invest in its capabilities, and create long-term value for customers and shareholders.”
Mike Scott, Managing Partner and Founder of Pelican Energy Partners
“Joining the Pelican platform accelerates our strategic trajectory. With Pelican’s support, we will accelerate the modernization and expansion of our manufacturing capabilities to meet unprecedented demand across the nuclear, aerospace, defense, and medical sectors. This partnership also enables us to expand our portfolio of mission-critical products and engineered solutions while maintaining the uncompromising quality, precision, and reliability standards that have defined Veridiam for more than 60 years.”
Brian Joyal, CEO of Veridiam
