Houston PE firm makes latest nuclear industry acquisition

Houston-based private equity firm Pelican Energy Partners has acquired California-based Veridiam for an undisclosed amount, reinforcing its investment strategy in the nuclear energy sector. Veridiam is a precision manufacturer of components and assemblies made from exotic metals and advanced alloys, serving the nuclear, aerospace, defense, space, and medical industries. The company will continue operating under its existing name and leadership, with CEO Brian Joyal remaining in charge. According to Joyal, the partnership will accelerate the modernization and expansion of Veridiam’s manufacturing capabilities, enabling the company to meet growing demand, broaden its portfolio of mission-critical products, and maintain its long-standing standards of quality and precision. Since its founding in 2011, Pelican Energy Partners has raised more than $1 billion in committed capital and completed over 15 investments. The firm is currently investing through its fourth fund, including a $450 million fund launched in 2024 focused on nuclear energy services and equipment companies. Veridiam joins Pelican’s expanding nuclear portfolio, following recent acquisitions of Environmental Alternatives Inc. and WSI Welding Solution.