GSE Systems to be Acquired By Pelican Energy Partners for $6.21 Million in Cash

GSE Systems, Inc. (GVP) on August 8, 2024, entered into a definitive merger agreement to be acquired by Pelican Energy Partners for $6.21 million in cash.

Deal Structure:

Under the terms of the deal, Pelican will acquire all the outstanding shares of GSE Systems for an estimated total cash consideration of $4.10 per share, representing a premium of 50.18% from the stock’s last close.

Company Profile:

GSE Systems is a company that offers engineering, staffing, and simulation services to improve the performance and safety of power plants and other industrial facilities worldwide.

Pelican Energy Partners is a Houston-based private equity firm founded in 2011 that invests in small to mid-sized energy service and equipment companies, focusing on the oil, gas, and nuclear sectors.

Deal Details and Timeline:

The transaction is expected to be completed in the third or fourth quarter of 2024, after which GSE will become a private company.

GSE’s current Price/Sales (TTM) ratio is 0.16, below the sector median of 2.81.

“GSE has an excellent reputation in the market and provides a critical service that will benefit from new plant development and existing plant upgrades and extensions. As a growth equity investor, Pelican is dedicated to expanding nuclear energy services to support the sector,” said Sam Veselka, Managing Director of Pelican.

Deal Metrics:

For more intricate details regarding this merger and acquisition transaction, please visit the Deal Metrics page:

Deal metrics page for the acquisition of GSE Systems, Inc. (GVP) by Pelican Energy Partners

The Deal Metrics page for every merger or acquisition includes:
– A spread history chart of the merger from the announcement to completion or failure.
– A record of every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates and much more.

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Editor’s Note: Baranjot Kaur contributed to this article