Arlington Capital Partners has acquired nuclear engineering firm Enercon from Oaktree Capital Management in a $1.25 billion deal. The transaction merges Enercon with Arlington's Pond & Co., creating a combined entity with more than 2,700 professionals headquartered in the Atlanta area. The acquisition reflects Arlington's continued focus on government-regulated industries.

Enercon provides specialized nuclear engineering and licensing support to commercial and federal customers, covering 90% of nuclear power plants in the US. The acquisition comes as demand for nuclear power has grown with the rise of data centers and their need for new energy sources. The sector aligns with Arlington's investment strategy.

Michael Lustbader, a managing partner at Arlington, described this as "the beginning of a really large wave of nuclear" including small modular reactors for hyperscalers and both large-scale and small nuclear plants. The deal follows Arlington's acquisition of Pond earlier this year and precedes further expansion plans as nuclear energy gains bipartisan support.