Pelican Energy Partners Announces Acquisition of Riggins Company

Pelican Energy Partners, a private equity firm specializing in the energy services and equipment sectors, has announced the acquisition of Riggins Company, a provider of engineered metal fabrication and custom components primarily serving the U.S. Navy and other industries. The deal, which was disclosed on July 20, 2026, involves an undisclosed transaction value. This acquisition is expected to enhance Riggins' growth trajectory and capacity expansion, aligning with Pelican's strategic focus on critical services within the energy sector.

Founded in 1960 and headquartered in Hampton, Virginia, Riggins Company has established itself as a key player in the custom metal fabrication industry. The company specializes in providing mission-critical components for the U.S. Navy's nuclear fleet, as well as serving the power, refining, petrochemical, and aerospace sectors. Riggins' capabilities include custom metal fabrication, specialty welding, engineering and design, turnkey project management, and field installation services. The company's reputation for quality and compliance with stringent military standards has made it a trusted supplier for major U.S. nuclear shipbuilding contractors.

The strategic rationale behind Pelican's acquisition of Riggins lies in the increasing demand for qualified suppliers in the defense and energy sectors. As the U.S. government invests significantly in its submarine and aircraft carrier fleets, the need for reliable and capable suppliers has never been more critical. Pelican's Managing Director, Walter Weathers, emphasized the importance of Riggins' established certifications and capabilities in meeting these demands. The partnership is expected to provide Riggins with the resources necessary to expand its operational capacity and continue delivering high-quality services to its customers.

Riggins' existing leadership team will remain in place following the acquisition, ensuring continuity for both customers and employees. This stability is vital as the company seeks to scale its operations in response to growing market needs. Justin Byrum, President and CEO of Riggins, highlighted the importance of this partnership in enabling the company to invest in its workforce and maintain its commitment to quality and schedule performance.

The broader market implications of this acquisition reflect a trend of consolidation in the energy services sector, particularly among companies that provide essential services to the defense and nuclear industries. As the landscape evolves, firms like Pelican Energy Partners are well-positioned to capitalize on the increasing demand for specialized capabilities. This acquisition not only strengthens Pelican's portfolio but also underscores the critical role that companies like Riggins play in supporting national defense initiatives and infrastructure development.