GSE Solutions and Pelican Energy Partners Announce Successful Merger
Deal News | Nov 01, 2024 | Pelican Energy Partners LP
GSE Solutions, an advanced engineering firm supporting clean energy and decarbonization in the power industry, has officially merged with Pelican Energy Partners, a private equity firm specializing in energy services and manufacturing. The merger, overwhelmingly approved by GSE's shareholders, results in the suspension of GSE common stock trading as of October 31, 2024. Pelican sees the merger as an opportunity to partner with GSE's proficient team and expand on their success in the nuclear service industry. The merger process was advised by Robert W. Baird & Co. and several legal firms. GSE, boasting decades of experience and hundreds of international clients, aims to leverage this merger to optimize plant operations and continue delivering superior engineering solutions globally.
Sectors
- Energy
- Private Equity
Geography
- United States – GSE Solutions is based in Columbia, Maryland, and Pelican Energy Partners operates within the U.S., making the country a central hub for this merger.
Industry
- Energy – The merger involves GSE Solutions, a company focusing on clean-energy production and decarbonization, placing it squarely within the Energy industry.
- Private Equity – Pelican Energy Partners, a private equity firm, plays a key role in the merger, highlighting the influence and strategy of investment in energy service businesses.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GSE Solutions | Target | Company | A leader in engineering solutions that supports clean-energy production and decarbonization initiatives in power industry. |
| Pelican Energy Partners | Bidding Company | Company | A specialized private equity firm focusing on energy services and manufacturing companies. |
| Broadridge Corporate Issuer Solutions, LLC | Paying Agent | Company | Responsible for distributing the merger consideration to GSE stockholders. |
| Robert W. Baird & Co. Incorporated | Financial Advisor | Company | Provided exclusive financial advisory services to GSE in the merger transaction. |
| Miles & Stockbridge P.C., Potter Anderson & Corroon LLP, Cole Schotz P.C. | Legal Advisors to GSE | Company | Provided legal advisory services to GSE for the merger. |
| Locke Lord LLP | Legal Advisor to Pelican | Company | Provided legal advisory services to Pelican Energy Partners for the merger. |
| Ankura Capital Advisors | Fairness Opinion Provider | Company | Provided a fairness opinion to the GSE Board of Directors regarding the merger. |