News

08/04/2026

Dickinson Williams advises on the sale of Riggins Company

Dickinson Williams & Company is pleased to announce that it served as the exclusive financial advisor to Riggins Company, L.C. (“Riggins” or the “Company”) in its recent sale to Pelican Energy Partners (“Pelican”). The transaction closed on June 30, 2026.

Riggins provides engineered metal fabrication and custom components to the U.S. Navy and its nuclear submarine and aircraft carrier shipbuilding partners, as well as the power, refining, petrochemical, and aerospace industries. The Company’s mission-critical capabilities include custom metal fabrication and weldments, specialty welding, engineering and design, turnkey project management, and field installation services.

Headquartered in Hampton, Virginia, Riggins was founded in 1960 as a pipefitting and ironworking contractor serving NASA and other industrial end markets. Today, it is one of the most well-known and trusted custom design, weldment, and fabrication firms in Hampton Roads with deep experience meeting NAVSEA, ASME, and military quality and compliance requirements. The Company’s existing leadership team will continue to lead the business, ensuring continuity for customers and employees.

John Munford, Chairman of Riggins, said, “We hired the Dickinson Williams team to deliver an exceptional outcome, that beyond value, was focused on finding a partner that appreciated our culture and passion for our people. In DW, we could not have asked for a better partner to shepherd us through this process and deliver superb, white glove service throughout. We are overwhelmingly happy with the outcome.”

Justin Byrum, President and CEO of Riggins, said, “Dickinson Williams is a team of true professionals, empowered at all levels to be a thoughtful and capable resource for our team. They were especially helpful as guides, advisors, and friends that led the execution of the process with structure and discipline, but having fun along the way too! Our partnership with DW was built on shared values, cultural alignment, and a joint appreciation for the demand on our industry to produce accelerated warfighting capabilities for the U.S. Navy. I am personally and professionally grateful for the partnership with DW, and their assistance in establishing our new partnership with Pelican.”

Harold Williams, Co-Founder and Managing Director at Dickinson Williams, added, “Riggins has been meeting welding challenges for over 65 years and delivering mission-critical projects when others cannot. At the core of its success is a culture built on winning together and championing continuous learning and improvement. Riggins’ commitment and focus on people drives talent acquisition and retention, failsafe quality, on-time delivery, and safety.”

Walter Weathers, a Managing Director of Pelican, stated, “Riggins has spent years earning the certifications, capabilities and reputation required to fabricate mission-critical components for the U.S. Navy’s nuclear fleet. As the country makes a generational investment in its submarine and aircraft carrier fleets, qualified capacity across the supplier base has never mattered more. We are excited to partner with the Riggins team to invest in that capacity and support the Company’s continued growth across multiple industries.”

Somertons and Cherry Bekaert provided legal and accounting services to Riggins, respectively. Reed Smith served as legal counsel to Pelican Energy Partners.

About Pelican Energy Partners:

Pelican Energy Partners specializes in strategic investments in small to mid-sized, high-growth energy equipment and service companies within the oil & gas and nuclear sectors. Since its founding in 2012, the firm has raised over $1 billion in committed capital and has successfully realized more than fifteen investments. Pelican is currently investing from its fourth fund which is dedicated to supporting and advancing companies that provide critical services to the nuclear industry.

 About Dickinson Williams & Company:

Dickinson Williams & Company is an independent investment banking firm led by industry veterans with over 90 years of combined investment banking, financing, and operating experience. The firm provides objective, experience-based advisory services to lower middle market companies with enterprise values up to $150 million. The firm provides sell-side, buy-side, private placement, recapitalization, and strategic advisory services to family and closely held businesses, corporations, and private equity investors, and has a broad cross-section of transaction and industry experience in the industrials, business services, distribution, healthcare, and consumer sectors.

John C. Dickinson
Managing Director
jdickinson@dickinsonwilliams.com
804.588.3412

James A. Gilmore
Managing Director
jgilmore@dickinsonwilliams.com
804.588.3414

Harold J. Williams III
Managing Director
hwilliams@dickinsonwilliams.com
804.588.3413