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Pelican Energy Partners Announces Acquisition Of Springs Advanced Technology Group From Machine Build Technologies

Nov 21, 2023about 2 years ago

Acquiring Company

Pelican Energy Partners

Acquired Company

Springs Advanced Technology Group

HoustonWestminsterVenture Capital

Description

Pelican Energy Partners Base Zero LP ("Pelican") is pleased to announce that it has acquired Springs ATG, LLC ("Springs ATG") from Machine Build Technologies. In conjunction with the transaction, Springs ATG will be rebranded as Advanced Technology Group ("ATG" or the "Company"). ATG is based in Westminster, Colorado and is a manufacturer of containment solutions, including gloveboxes, for the nuclear industry. The Company's containment solutions are used in multiple applications to facilitate life extension of nuclear power plants across North America, as well as enabling the nascent SMR/Advanced Reactor industry.

Company Information

Company

Pelican Energy Partners

Location

Houston, Texas, United States

About

Pelican Energy Partners specializes in strategic investments in small to mid-sized, high-growth energy equipment and service companies within the oil & gas and nuclear sectors. Since its founding in 2011, the firm has raised over $1 billion in committed capital and has successfully realized more than 15 investments. Pelican is currently investing from its fourth fund which is dedicated to supporting and advancing companies that provide critical services and products to the nuclear power industry; an essential component in maintaining and enhancing the existing nuclear energy infrastructure.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed