Livingstone’s Industrial team is delighted to announce that Skolnik Industries (“Skolnik” or the “Company”) has been sold to Pelican Energy Partners (“Pelican”). The transaction closed on December 31, 2024. Terms were not disclosed.

Headquartered in Chicago, Illinois, Skolnik is a leading manufacturer of premium customized industrial packaging solutions for critical contents serving commercial and regulated industries. Over the last 40 years, Skolnik has provided steel drums to domestic and international customers, including NQA-1-certified drums to the nuclear industry.

“It was a pleasure partnering with Livingstone on the sale of Skolnik. Livingstone’s talented team brought tremendous experience in the industrial sector and a data-driven approach that were invaluable in navigating the process,” said Howard Skolnik, Founder and Chairman of Skolnik. “Skolnik began as a dream that was rooted in the principles of architecture and then crossed over to become a manufacturer. Skolnik became a business that is known worldwide for its product quality and personal integrity. Through hard work, resilience, and the collective efforts of an amazing team, that dream grew into something far greater than I could ever have imagined. Our nuclear business has given us a unique position within this highly sophisticated industry, and I am confident that Pelican will further develop the Company’s mission.”

Pelican Energy Partners is a Houston-based private equity firm specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies. The firm invests in energy equipment and service companies in the oil and gas and nuclear sectors.

Skolnik will continue to be run by Dean Ricker, the Company’s president. Regarding the transaction, Dean said, “The management team is excited about Pelican’s new ownership in the Company. While Skolnik’s nuclear business was instrumental in Pelican’s acquisition, we will continue to focus on providing the same level of service and attentiveness to all customers, regardless of sector.”

“We are proud to have advised Howard, Brian, Dean, and the Skolnik team on the sale to Pelican,” said Karl Freimuth, Partner at Livingstone. “Skolnik was a coveted specialty industrial packaging asset and represents the 88^th transaction completed by Livingstone’s global Industrial practice over the previous four years. We anticipate significant buyer interest for quality industrial assets at compelling market valuations to continue in 2025.”

“Skolnik has an established history of excellence in specialty packaging, and its partnership with Pelican Energy Partners will only amplify its market potential,” added David Modiano, Director at Livingstone. “We are honored to have guided the Skolnik team in finding a partner that aligns with their values and is well-equipped to support their long-term expansion strategy.”

In 2024, Livingstone’s global industrial team completed 24 transactions, underscoring its commitment to providing first-class advisory services to middle-market industrial technology businesses.

Pedersen & Houpt served as legal counsel, and Kroll LLC provided transaction-related accounting services to Skolnik in connection with the transaction. Reed Smith LLP acted as legal counsel to Pelican Energy Partners.

Transactions