Lancs Celebrates Acquisition by Pelican Energy
Deal News | Nov 04, 2024 | Pelican Energy Partners LP
Pelican Energy Partners announced the acquisition of Lancs Industries, a company specializing in radiation containment and shielding solutions, headquartered in Albuquerque, New Mexico. Lancs, founded in 1974, provides services to clients such as the U.S. Department of Energy, commercial nuclear power operators, the U.S. Navy, National Laboratories, and the pharmaceutical sector. Sam Veselka, Managing Director of Pelican, expressed enthusiasm about the acquisition, highlighting Pelican's intent to leverage Lancs' reputation and drive growth, creating new jobs in Albuquerque. Lancs President Lewis Byrd also expressed his excitement, emphasizing Pelican's dedication and capability in the nuclear energy sector as key factors for this partnership. Legal counsel for Pelican was provided by McGuireWoods LLP, while Cairncross & Hempelmann PS served in the same capacity for Lancs.
Sectors
- Nuclear Energy
- Legal Services
Geography
- United States – The acquisition involves a company in Albuquerque, New Mexico, and serves critical U.S. sectors including federal government and military clients.
Industry
- Nuclear Energy – Lancs Industries provides products and solutions vital for radiation containment and shielding, essential to the nuclear energy sector.
- Legal Services – Legal services were integral to the acquisition, with McGuireWoods LLP and Cairncross & Hempelmann PS serving as legal counsels.
Financials
- Not Disclosed – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pelican Energy Partners | Bidding Company | Company | Private equity firm that acquires companies in the energy sector. |
| Lancs Industries | Target Company | Company | Provider of radiation containment and shielding solutions. |
| Sam Veselka | Managing Director | Person | Managing Director at Pelican Energy Partners. |
| Lewis Byrd | President | Person | President of Lancs Industries. |
| McGuireWoods LLP | Legal Advisor to Pelican | Company | Law firm that acted as legal counsel to Pelican Energy Partners. |
| Cairncross & Hempelmann PS | Legal Advisor to Lancs | Company | Law firm that acted as legal counsel to Lancs Industries. |