Houston, TX - July 18, 2016 - Pelican Energy Partners, a private equity firm focused on the oilfield services and equipment sector, is pleased to announce the strategic combination of Air Relief, Inc. ("Air Relief") and Epic Industrial Solutions, LLC ("Epic").
Air Relief was founded in 1985 and was most recently a division of Gardner Denver, Inc. Air Relief is located in Mayfield, Kentucky and provides comprehensive aftermarket services, repairs, parts and upgrades for centrifugal compressors to customers in the general industrial and oil and gas industries. Air Relief's design-enhanced aftermarket products such as TurboLogix™ System Controllers, Inlet Guide Vanes, CenLube compressor lubricant and inner coolers all significantly reduce customers' operating costs.
Epic was founded in early 2015 by a team of industry veterans that have worked together twice before in similar businesses. Located in Houston, Texas, Epic provides a broad suite of aftermarket solutions to both reciprocating compressors, predominantly used in natural gas pipeline applications, and centrifugal compressors which are utilized across the general industrial sector.
"We are very excited to be combining forces with the Air Relief team. Air Relief's expertise with Ingersoll Rand's Centac® compressors is highly complementary to our historical focus on the legacy Joy™ units. The combined expertise of our service technicians will enable the company to service a greater range of compressor types and brands" said Paul DeWeese, CEO of Epic Industrial Solutions.
Mike Scott, Managing Partner of Pelican Energy Partners, stated, "The compression equipment sector has witnessed significant consolidation over the last two years, creating a tremendous amount of customer confusion. On top of that, the current aftermarket structure is inefficient and bears unacceptably long lead times. The combined business is well positioned as the only fully integrated provider, enabling Epic and Air Relief to significantly reduce industry lead times and return mission-critical equipment to service more quickly."
About Pelican Energy Partners
Pelican Energy Partners is a Houston-based private equity fund specializing in strategic investments in small to middle-market, high growth potential energy service and equipment companies with sustained earnings outlooks. Pelican's Fund I investments include Capline Environmental Services, Elite Production Services, Downhole Technology, Rapid Rod Service, Patriot Artificial Lift / Flowco Solutions, Elite Multiphase Solutions, Multilift Welltec and P360 Management Solutions. Epic Industrial Solutions is Pelican's first investment from its second fund closed earlier this month.