Houlihan Lokey Advises TranSystems
Houlihan Lokey is pleased to announce that TranSystems, a portfolio company of Sentinel Capital Partners (Sentinel), has merged with Gannett Fleming, a portfolio company of OceanSound Partners (OceanSound). The transaction closed on August 5, 2024. Together, Gannett Fleming and TranSystems create a best-in-class organization with approximately $1.3 billion in revenue and a highly skilled workforce of more than 5,000 employees.
The combination creates a leading engineering and infrastructure solutions provider with deepened capabilities across the transportation end market, enhancing the company’s ability to serve its base of government and commercial clients across North America. Together, the company establishes meaningful scale across several critical subverticals within the transportation end market, including highways, bridges, mass transit, freight rail, and airports. Gannett Fleming and TranSystems are each recognized as top 20 providers on the Engineering News-Record rankings for transportation design services. In addition, the transaction will accelerate growth through the cross-selling of complementary services across the water, environmental, and power end markets, driven by sector expertise and repeat business from long-standing clients.
TranSystems provides engineering, architecture, and design consulting solutions for U.S. transportation end markets. TranSystems plans, inspects, designs, and provides related services to some of the most complex transportation infrastructure projects in the country. With 1,800+ engineers and technical employees working from 71 offices across the United States, TranSystems serves a diverse client base spanning government, freight, transit, aviation, and intermodal end markets.
Sentinel is a New York-based private equity firm that invests in middle-market businesses in the United States and Canada. Sentinel targets the business services, consumer, healthcare services, and industrials sectors and invests in management buyouts, recapitalizations, corporate carveouts, going-private transactions, and noncontrol senior equity and debt securities of established businesses.
Gannett Fleming is an architecture, engineering, and construction firm partnering closely with clients on some of the toughest challenges facing communities today. Gannett Fleming offers comprehensive infrastructure solutions to a wide range of markets, including transportation, life sciences, water resources, education, industrial, federal, power, and energy. Founded in 1915, they are an employer of choice for 3,000+ of the best and brightest in the industry, with a focus on making the built environment safer, as well as more resilient and sustainable.
OceanSound is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle-market businesses to drive transformational growth.
Houlihan Lokey served as the lead financial advisor to TranSystems and Sentinel and assisted in marketing, structuring, and negotiating the transaction on their behalf. This transaction underscores Houlihan Lokey’s success and preeminent coverage of the engineering and infrastructure services sector.
RELATED: Financial Sponsors Coverage, Engineering and Infrastructure