Ankura Capital Advisors Delivers Fairness Opinion For GSE Systems' Merger With Pelican Energy Partners

Introduction

On November 1, 2024, GSE Solutions (GSE), a leader in advanced engineering solutions for the clean-energy sector, announced the successful closing of its merger with an affiliate of Pelican Energy Partners. This strategic merger, overwhelmingly approved by GSE shareholders, marks a significant milestone in the company's journey toward supporting decarbonization initiatives in the power industry. Learn more: GSE Solutions and Pelican Energy Partners Announce Closing of Merger

Ankura's Role in the Transaction

Ankura Capital Advisors rendered a fairness opinion to the Board and shareholders of GSE in connection with the transaction.

Quote from Ankura Leadership

Richard Hitt, Senior Managing Director and Leader of Ankura's Valuation Services practice and Karl D'Cunha, Managing Director were responsible for delivering the fairness opinion. "The partnership with Pelican Energy Partners was executed byGSE to provide itgrowth capital to take itsbusiness to a new level.", according to Mr. Hitt.

Strategic Importance of the Merger

GSE is pleased to have delivered what it considers to be maximum value to GSE stockholders and, at the same time, leave GSE in good hands with Pelican Energy Partners who understands the long-term prospects for the nuclear power industry.

Conclusion

Ankura Capital Advisors is proud to have played a pivotal role in this landmark transaction by providing a fairness opinion that supported GSE's Board of Directors in making informed decisions. We look forward to witnessing the positive outcomes of this merger as GSE and Pelican Energy Partners embark on their shared journey to advance the nuclear power industry.

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