Pelican Energy Partners announced the acquisition of Lancs Industries. Based in Albuquerque, New Mexico, Lancs provides radiation containment and shielding solutions to the U.S. Department of Energy nuclear waste remediation, commercial nuclear power, U.S. Navy, National Laboratory, and pharmaceutical sectors.
Founded in 1974, Lancs is proud to celebrate 50 years of innovation as a pioneer in radiation protection products, containment equipment, and other safety gear for the nuclear industry, including lead and lead-free shielding products.
Pelican Energy Partners is a Houston-based private equity fund specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies with sustained earnings. And the firm has raised $563 million of committed capital and is investing out of its third fund.
McGuireWoods acted as legal counsel to Pelican Energy Partners, and Cairncross & Hempelmann PS served as legal counsel to Lancs Industries.
KEY QUOTES:
“Pelican is excited to partner with Lancs in the next stage of their journey. The Company is a highly regarded supplier of radiation containment and shielding solutions to critical customers in the nuclear supply chain. We aim to drive growth and create new jobs in Albuquerque, reinforcing the area’s long legacy in nuclear energy.”
- Sam Veselka, a Managing Director of Pelican
“We are thrilled to partner with Pelican Energy Partners. Pelican’s dedication to the nuclear energy sector and their leadership’s extensive experience in operating and scaling businesses make them the perfect partner for Lancs.”
- Lewis Byrd, President of Lancs
