Pelican Energy Partners expands nuclear platform with acquisition of Hanna Cylinders

Pelican Energy Partners, the Houston-based private equity firm focused on energy services and specialized industrial assets, has added another link to its growing domestic nuclear infrastructure portfolio by acquiring Hanna Cylinders. Headquartered in Pleasant Prairie, Wisconsin, Hanna Cylinders is a long-standing manufacturer of precision-engineered hydraulic and pneumatic cylinders. The acquisition, announced on November 21, 2025, marks the third nuclear-adjacent transaction this year for Pelican Energy Partners, following its takeovers of Lancs Industries and United Services Group.

Founded over a century ago, Hanna Cylinders has built a reputation in manufacturing custom and standard motion control solutions for demanding industrial environments. These include use cases across nuclear energy, mining, material handling, oil and gas, marine, automotive, and construction sectors. The products are known for their durability, safety precision, and ability to function reliably in high-pressure, high-stakes conditions.

Pelican Energy Partners has confirmed that Hanna Cylinders will continue to operate under its existing brand and management team. Tim Barefoot will remain as President, signaling operational continuity and reinforcing Hanna’s existing customer relationships. Legal counsel for the transaction was provided by Reed Smith for Pelican Energy Partners and the Law Offices of Anthony F. Newton for Hanna Cylinders.

Why is Pelican Energy Partners consolidating cylinder manufacturing into its nuclear playbook?

The acquisition of Hanna Cylinders is not a standalone event but rather part of a deliberate industrial manufacturing strategy. Pelican Energy Partners has increasingly oriented its latest fund toward securing and scaling essential suppliers to the nuclear power industry. With motion control equipment playing a vital role in reactor operation, safety mechanisms, and material handling within nuclear facilities, Hanna’s capabilities add an important layer of technical depth.

Walter Weathers, Managing Director at Pelican Energy Partners, stated that Hanna Cylinders was selected for its deep technical expertise, legacy customer relationships, and culture of innovation. He noted that the broader growth in energy and infrastructure demand makes it critical to support high-performance, U.S.-based component manufacturers. Analysts who follow infrastructure-focused private equity believe this approach is designed to future-proof essential systems that underpin nuclear energy delivery, where component reliability is a non-negotiable requirement.

Industry consultants point out that the motion control industry has historically seen limited consolidation, especially in high-tolerance manufacturing for nuclear or defense purposes. By bringing Hanna Cylinders into its portfolio, Pelican Energy Partners is aiming to fill that niche with a vertically integrated, platform-led model. The move may also shield customers from global supply chain disruptions, particularly those stemming from component delays or geopolitical friction.

How Hanna Cylinders fits into Pelican Energy Partners’ 2025 strategic blueprint

The acquisition of Hanna Cylinders follows two earlier 2025 deals that provide insight into Pelican Energy Partners’ evolving thesis. In January, the firm acquired Lancs Industries, a provider of radiation shielding and containment systems for customers such as the United States Department of Energy, the United States Navy, and nuclear laboratories. Lancs Industries, based in Albuquerque, New Mexico, brought specialized expertise in safety and containment systems critical to nuclear remediation and decommissioning.

Two months later, in March 2025, Pelican Energy Partners acquired United Services Group, a Charlotte-based contractor specializing in welding, machining, and fabrication for power utilities. United Services Group adds field-level execution capabilities and supports operational uptime across nuclear and traditional energy assets. Together with Hanna Cylinders, these acquisitions round out a triad of upstream, midstream, and component-level capabilities focused squarely on domestic nuclear resilience.

For Pelican Energy Partners, this consolidation is not just about owning complementary assets but about stitching together a value chain that supports lifetime plant operations, scheduled maintenance, and retrofits for an aging nuclear fleet. With increasing pressure on utilities to extend reactor lifespans beyond their original design, there is a growing addressable market for engineered parts, fabrication expertise, and safety components.

What demand signals are driving private equity interest in nuclear manufacturing platforms?

Pelican Energy Partners’ pivot to nuclear-critical manufacturing aligns with a wider macroeconomic trend: the reindustrialization of strategic sectors within the United States. As energy security, net-zero emissions, and clean power diversification gain political traction, nuclear energy is increasingly being positioned as a durable solution for base-load reliability. This tailwind is being further supported by policy, including investment credits under the Inflation Reduction Act and regulatory support for new reactor designs.

Precision component manufacturers like Hanna Cylinders are viewed as cornerstone assets in this context. Hydraulic cylinders are not just commodity parts; they often serve core functions in safety systems, control rod actuation, and backup mechanisms in nuclear facilities. Their dependability can directly impact compliance, uptime, and the ability to navigate regulatory audits or stress testing.

Institutional sentiment toward these assets has improved markedly. Analysts tracking energy-focused private equity note that funds like Pelican Energy Partners are now prioritizing industrials with low customer churn, technical moat, and long-term government or utility contracts. Hanna’s profile fits this mold: a technically entrenched supplier with high switching costs and a multi-sector footprint that ensures cash flow diversity.

How Hanna Cylinders plans to scale under Pelican Energy Partners’ ownership

In a statement issued alongside the announcement, Tim Barefoot, President of Hanna Cylinders, expressed confidence in Pelican Energy Partners’ ability to fuel the company’s next stage of growth. He emphasized that the partnership would allow Hanna to invest in production efficiency, expand engineering capabilities, and push the boundaries of custom cylinder technology.

Hanna has long served both original equipment manufacturers and aftermarket clients, offering customized cylinder configurations designed to withstand extreme conditions and comply with rigorous safety standards. With access to new capital and strategic oversight, Hanna is expected to accelerate both throughput and R&D initiatives.

Industry observers believe the backing of Pelican Energy Partners will also open up synergistic opportunities between Hanna, Lancs Industries, and United Services Group. While the companies will remain operationally independent, their collective client base and product portfolios could enable bundling of services, cross-sell strategies, and broader engagement with nuclear utilities, defense primes, and industrial OEMs.

What performance indicators will determine whether Pelican’s integration of Hanna Cylinders can scale successfully in the nuclear and industrial supply chain over the next year?

Looking ahead, investor attention will likely focus on Hanna’s growth trajectory in three core areas: capacity expansion, lead time optimization, and client diversification. While the company’s multi-decade legacy provides operational credibility, scaling without compromising quality will be a key execution challenge. Engineering recruitment, digital modernization of production lines, and data-driven quality assurance are expected to feature prominently in the operational roadmap.

Pelican Energy Partners has not disclosed transaction size or fund allocation metrics, but based on the size and sector alignment of prior deals, analysts estimate it falls within the standard range of Pelican’s fund IV ticket size. Investors and institutional partners will be watching for any future add-ons that might deepen Pelican’s exposure to reactor parts, nuclear fuels, or advanced manufacturing that supports small modular reactor (SMR) deployment.

The broader implication is that precision manufacturing, once a quietly running engine in the industrial ecosystem, is being repositioned as a front-line enabler of energy transition resilience. If Pelican Energy Partners succeeds in integrating Hanna Cylinders and leveraging its deep legacy, it may well set the tone for a new era of private equity-led industrial revitalization.

What are the key takeaways from Pelican Energy Partners’ acquisition of Hanna Cylinders?

• Pelican Energy Partners has acquired Hanna Cylinders, a 100-year-old manufacturer of precision-engineered hydraulic and pneumatic cylinders based in Wisconsin.

• The acquisition aligns with Pelican’s nuclear-focused investment strategy, following two earlier 2025 deals involving Lancs Industries and United Services Group.

• Hanna Cylinders’ products serve critical motion control applications in nuclear, oil and gas, marine, mining, and heavy industrial sectors.

• Pelican Energy Partners sees Hanna as a core platform to expand its U.S. nuclear infrastructure supply chain through component-level manufacturing.

• The deal enhances Pelican’s control over engineered component sourcing for nuclear operators amid growing energy security and decarbonization mandates.

• Hanna will retain its brand identity and current leadership team, with plans to scale manufacturing, engineering, and R&D capabilities.

• Industry analysts view the acquisition as part of a broader trend of private equity consolidation in domestic infrastructure and specialized industrials.

• Pelican’s growing platform suggests a strategy of vertically integrated services and component supply for nuclear plant life extensions and SMR deployment.

• Operational execution at Hanna will be closely monitored, with key metrics including capacity expansion, lead times, and client diversification.

• The move reflects rising institutional interest in technical, margin-resilient manufacturing assets that are critical to the U.S. clean energy transition.