Pelican Energy Partners Base Zero LP (“Pelican”) is pleased to announce its acquisition of Springs ATG, LLC (“Springs ATG”) from Machine Build Technologies. As a result of this transaction, Springs ATG will be rebranded as Advanced Technology Group (“ATG” or the “Company”). ATG, based in Westminster, Colorado, specializes in the manufacturing of containment solutions, including gloveboxes, for the nuclear industry.
With the investment from Pelican, ATG now operates as a standalone enterprise solely focused on designing and building containment systems. Pelican has also provided a cash infusion that will enable ATG to double its capacity. The existing management team has demonstrated their commitment by participating in this growth equity investment, ensuring the long-term management and growth of the business. This strategic investment by Pelican positions ATG to expand its market reach and enhance its service offerings to meet the increasing customer demand.
Paul Ernster of Pelican expressed his enthusiasm for the partnership with ATG, stating, “We are excited to partner with the ATG team and provide growth capital to the business. We expect ATG to continue building upon its impressive operational success and capitalize on the growing nuclear market.”
Kevin Oliver, president of ATG, added, “We are thrilled to partner with Pelican Energy Partners, whose unique focus on investment in the nuclear sector aligns perfectly with our growth plan. With the financial resources now at our disposal, our business is poised for high growth.”
Frequently Asked Questions (FAQ)
What does ATG specialize in?
ATG specializes in the manufacturing of containment solutions, particularly gloveboxes, for the nuclear industry.
What is Pelican Energy Partners?
Pelican Energy Partners is a private equity firm based in Houston, Texas. They specialize in strategic investments in small to middle-market, high-growth potential energy service and equipment companies in the oil and gas and nuclear sectors.
What are the implications of this acquisition?
The acquisition by Pelican Energy Partners allows ATG to operate as a standalone enterprise with a renewed focus on containment system design and construction. It also provides the necessary funding for ATG to expand its capacity and meet the growing demands of its customers in the nuclear industry.
