OceanSound Partners, a growth-oriented private equity firm that invests in technology and technology-enabled services companies serving government and enterprise end markets, has made a strategic investment in Gannett Fleming, an engineering and infrastructure services company.
Gannett Fleming is a provider of infrastructure consulting services such as engineering, architecture and construction and program management primarily for the transportation, water, federal, power and energy markets. The company was founded in 1915 and employs over 2,800 individuals including engineers, scientists, technologists and construction professionals. Gannett Fleming will continue to operate under the leadership of its existing management team, who will retain a significant ownership interest in the company.
“This partnership will help us attract and retain the best talent, make significant investments in emerging technologies, expand and deepen our geographic footprint, and support our employees so they remain at the top of their field,” comments Bob Scaer, CEO of Gannett Fleming. “Together with OceanSound, we expect to substantially increase our market share in our key service offerings while maintaining the time-tested culture and mission that our employees and clients value.”
Houlihan Lokey, Inc. acted as financial advisor and Holland & Knight LLP served as legal advisor to Gannett Fleming. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to OceanSound.