Investment Summary

Pelican Energy Partners Invests In Blue Wave

On June 26, 2023, private equity firm Pelican Energy Partners invested in software company Blue Wave

Investment Highlights
  • This is Pelican Energy Partners’ 2nd transaction in the Software sector.
  • This is Pelican Energy Partners’ 20th transaction in the United States.
  • This is Pelican Energy Partners’ 1st transaction in Indiana.

Investment Summary

Date 2023-06-26
Target Blue Wave
Sector Software
Investor(s) Pelican Energy Partners
Deal Type Growth Capital
Advisor(s) Benchmark International (Financial)
Nelson Mullins Riley & Scarborough (Legal)

Target

Blue Wave

West Lafayette, Indiana, United States
Blue Wave is a software-as-a-service (SaaS) business that develops and sells AI-based software to support the nuclear energy industry. The Company's software transforms historical reactor operational data into critical intelligence that helps nuclear operators reduce reactor operating and maintenance costs through improved fuel use optimization, and improved plant capacity factors via the ability to better predict component failure. Blue Wave was founded in 2016 and is based in West Lafayette, Indiana.

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Investor(S) 1

Investor
DESCRIPTION

Pelican Energy Partners is a private equity firm focused on making strategic investments in energy services and manufacturing companies. The Firm typically pursues profitable, established companies across North America with EBITDA generally between $1 million and $10 million. Pelican Energy Partners was formed in 2011 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 22 of 33
Sector: Software M&A 2 of 3
Type: Growth Capital M&A Deals 6 of 6
State: Indiana M&A 1 of 1
Country: United States M&A 20 of 31
Year: 2023 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-11 Iron Horse Tools

Corpus Christi, Texas, United States

Iron Horse Tools is a provider of automated drilling chokes in the US, with a focus on proprietary solutions that improve efficiency and safety during managed pressure drilling ("MPD") operations. Iron Horse Tools was founded in 2008 and is based in Corpus Christi, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-21 Advanced Technology Group

Westminster, Colorado, United States

Advanced Technology Group is a manufacturer of containment solutions, including gloveboxes, for the nuclear industry. Advanced Technology Group is based in Westminster, Colorado.

Buy -