Pelican Energy Partners Acquires Hanna Cylinders
Pelican Energy Partners is announcing an exciting development in its growth story with the acquisition of Hanna Cylinders. Renowned for its excellence, Hanna is a manufacturer of hydraulic and pneumatic cylinders created for high-performing industrial applications.
Strategic Move for Growth in Energy Sector
With this acquisition, Pelican is positioning itself strategically within the manufacturing sector. Hanna will enhance Pelican's investment approach, focusing on suppliers who serve vital energy markets and nuclear infrastructure. This move highlights Pelican's dedication to establishing a robust, domestic supply chain for operators in the nuclear sector and beyond.
Strengthening Relationships and Capabilities
Walter Weathers, the Managing Director at Pelican Energy Partners, stated that Hanna represents a superb platform due to its impressive technical capabilities and a loyal customer base. He emphasized that with the rising demand in energy and infrastructure sectors, supporting specialized equipment suppliers is paramount. Pelican is eager to nurture Hanna's growth and innovation.
Hanna Cylinders: A Legacy of Engineering Excellence
For over 100 years, Hanna Cylinders has stood out in engineering and performance reliability. The company’s rich history has established it as a top player in creating cylinders that endure rigorous operating conditions and meet precision requirements.
New Horizons for Hanna
Tim Barefoot, President of Hanna Cylinders, expressed enthusiasm for the new chapter in Hanna's legacy. This acquisition aligns perfectly with Hanna's growth ambitions, enabling them to enhance their production and engineering prowess while continuing to innovate their cylinder technologies.
Operational Continuity and Brand Identity
Hanna will maintain its operational identity and continue to be led by its existing management team. This continuity ensures that the brand remains strong and recognizable while embracing the benefits of Pelican's investment and strategy.
About Hanna Cylinders
Hanna Cylinders has achieved a revered status in the hydraulic and pneumatic cylinder landscape. Catering to OEMs and aftermarket clients, Hanna specializes in various sectors including energy, automotive, agriculture, and more. Their engineering expertise is a testament to their commitment to producing durable and precise cylinder solutions.
About Pelican Energy Partners
Founded in 2011, Pelican Energy Partners focuses on making strategic investments in high-growth companies in the energy equipment and service realm. They have successfully garnered over $1 billion in committed capital, completing more than 15 investments to date. Presently, Pelican's fourth fund concentrates on supporting critical services and products for the nuclear power industry.
Frequently Asked Questions
What does Pelican Energy Partners focus on?
Pelican specializes in investing in small to mid-sized, high-growth energy equipment and service companies, particularly in the oil and gas and nuclear sectors.
Who is Hanna Cylinders?
Hanna Cylinders is a leading manufacturer of hydraulic and pneumatic cylinders, known for its engineering expertise and a legacy spanning over 100 years.
What will happen to Hanna's brand after the acquisition?
Hanna will continue to operate under its existing brand name, led by its current management team, ensuring brand identity and operational continuity.
What is the significance of this acquisition for Pelican?
This acquisition enhances Pelican's investment strategy and strengthens its focus on the energy and nuclear sectors, contributing to a robust domestic supply chain.
How long has Pelican Energy Partners been in operation?
Pelican Energy Partners was founded in 2011 and has successfully completed numerous investments while raising significant capital for its initiatives.
