Pelican Acquires Electrical Builders Industries

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Aug 09, 2024, 07:00 ET

HOUSTON, Aug. 9, 2024 /PRNewswire/ -- Pelican Energy Partners ("Pelican") is pleased to announce the acquisition of Electrical Builders Industries ("EBI" or the "Company"). Headquartered in St. Cloud, Minnesota, EBI is an industry-leading service provider specializing in solutions for system critical electrical bus duct installation, replacement, and repair. Over the last 50 years, EBI has provided asset life extension services to generation facilities across North American, including over 75% of the United States commercial nuclear fleet, reinforcing the Company's commitment to maintaining and growing the nuclear power sector.

Jessica Netter, second generation owner and CEO of EBI, stated "We are pleased to partner with Pelican as we enter the next growth phase of our business. Pelican's commitment to the nuclear sector coupled with their experienced leadership is set to provide EBI ample opportunities to grow within North America's power sector. This partnership will allow us to continue to invest in our high caliber talent and build on our reputation for unsurpassed quality, exceptional safety, and customer centric service."

Paul Ernster, Vice President at Pelican, stated, "We look forward to the partnership with EBI and its CEO Jessica Netter. This partnership reflects Pelican's commitment to investing in market-leading nuclear energy service providers and growing the capacity of the nuclear supply chain. We are especially excited about the role EBI will play in expanding baseload power generation to support the significant energy supply needs for datacenter facilities."

For more information on Electrical Builders, please see the EBI website, www.electricalbuilders.com.

Locke Lord LLP acted as legal counsel to Pelican Energy Partners, and Taft Stettinius & Hollister LLP served as legal counsel to Electrical Builders.

About Electrical Builders Industries

EBI offers high-quality industrial, electrical, and welding services during scheduled plant turnarounds and new builds, while also establishing itself as the premier emergency services contractor for unplanned outages for more than a decade. The company has extensive experience working with utility owner / operators of nuclear power stations and all other traditional power generation sources. The team at EBI provides a clear and quantifiable path for project execution to all its customers based on its highly experienced team, rapid deployment speed, an unmatched safety culture, and access to its R3 Mobile Fabrication Unit – all of which ensure smooth completion for bus duct maintenance, repair and install projects.

About Pelican Energy Partners

Founded in 2011, 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.

For more information about Pelican Energy Partners, please visit www.pelicanenergypartners.com.

Mike Scott
[email protected]
713-559-7112

SOURCE Pelican Energy Partners