Pelican Energy Partners Acquires Tennessee-based MillenniTek
[Click image to enlarge]
Pelican Energy Partners has acquired MillenniTek. Headquartered in Knoxville, Tennessee, MillenniTek is a premier developer, manufacturer, and supplier of advanced materials for the nuclear energy industry.
Since its inception in 2010 as a carve-out of Dyson Group, the company’s management team has successfully introduced new ceramic product lines and doubled overall production capacity.
“Pelican is excited to partner with MillenniTek’s exceptional management team. The company is highly regarded within the nuclear supply chain, and well positioned to continue its trajectory as a market leader,” said Walter Weathers, a managing director of Pelican.
“This investment marks our second within the Knoxville area in the past eight months. We aim to drive growth and create new jobs in Tennessee, reinforcing the state’s enduring commitment to nuclear energy,” added Weathers.
Steve Getley, CEO and president of MillenniTek, will continue to lead the company and retain significant ownership as it seeks to expand in domestic and international markets.
“MillenniTek’s partnership with Pelican comes at a pivotal moment as we explore new avenues for growth. 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 MillenniTek,” said Steve Getley, CEO and president of MillenniTek.
Pelican Energy Partners is a Houston-based private equity firm specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies. The firm makes investments in energy equipment and service companies in the oil and gas and nuclear sectors.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2024 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
