Pelican Energy Partners to acquire surface pressure control unit of Baker Hughes.

Pelican Energy Partners, a private equity firm, agreed to acquire surface pressure control unit of Baker Hughes, an oilfield products and services provider. Financial terms were not disclosed. "This carveout transaction will enable the business to be a more focused, nimble and responsive company. We are glad to be supporting this management team that strongly believes that as a more entrepreneurial company, they will be better positioned to compete and win in these challenging markets," Mike Scott, Pelican Energy Managing Partner.