HOUSTON, Jan. 8, 2024 - Pelican Energy Partners ("Pelican") is pleased to announce the acquisition of Container Technologies Industries, LLC from a group of private shareholders. CTI is based in Helenwood, Tennessee and is a manufacturer of containment solutions for the nuclear industry. CTI is a certified HUBZone small-business whose customers include the U.S. Department of Energy, the U.S. Department of Defense and the commercial-nuclear industry.
Mike Scott, the Founding Partner of Pelican, stated "CTI is a great company with a 20+ year track record of expansion. The company's highly-experienced team has a reputation of delivering the highest quality containment solutions, including specialty products and industry-standard containers. The business is well positioned to deliver products for growing customer demand." In addition to the majority buyout of legacy shareholders, Pelican has invested growth capital into the business to expand capacity.
In conjunction with the acquisition, Pelican has named Dr. Danielle Castley as President of CTI. Dr. Castley has over a decade of experience in the nuclear industry and a PhD in Material Science with a background in radiation shielding materials. Dr. Castley stated, "We are excited to continue serving the Department of Energy and the thriving commercial nuclear industry. I also look forward to leading CTI to innovate in manufacturing to address the emerging needs of advanced reactors. CTI will also expand our production capabilities to support Governor Lee's intent of establishing Tennessee as the leader of America's nuclear supply chain. CTI is located in Helenwood, an economic development zone, where CTI will be actively recruiting to employ and train the next generation nuclear manufacturing workforce."
McGuire Woods LLP acted as legal counsel to Pelican Energy Partners, and Hirsch & Westheimer served as legal counsel to the sellers.
About Pelican Energy Partners
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.