NEW YORK--(BUSINESS WIRE)--Sound Point Capital Management (“Sound Point”) is pleased to announce that it acted as Administrative Agent on a first lien senior secured credit facility to Gannett Fleming (the “Company”), a leading engineering and infrastructure solutions provider. The financing was used to support the acquisition of the Company by OceanSound Partners (“OceanSound”).
Gannett Fleming is a leading 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 works in close collaboration with its customers to develop modern infrastructure solutions that will withstand the forces of a rapidly changing world. Founded in 1915, Gannett Fleming employs over 2,800 individuals including engineers, scientists, technologists, and construction professionals with a strong track record of developing and maintaining resilient, sustainable, and future-proof infrastructure. Gannett Fleming works with government entities, including many of the largest departments of transportation, as well as private and commercial clients throughout the U.S. and Canada. Gannett Fleming regularly wins industry awards for client service and project delivery and is currently #29 on the Engineering News-Record ("ENR") Top 500 Design Firms list, with rankings of #12 in transportation and #13 in water.
"Sound Point has been a trusted partner to OceanSound and successfully led this transaction during a challenging period in the credit markets,” said Addison Nordin, Principal at OceanSound. “Their familiarity with the dynamics of the infrastructure services market, Gannett Fleming’s operating model, and an alignment on our vision for the future allowed us to move quickly and decisively. We are excited to pursue an active acquisition program at Gannett Fleming in close partnership with Sound Point.”
“Gannett Fleming has a 100+ year history of solving complex infrastructure challenges with innovation, reliability, and excellence. We are pleased to back an industry leader playing an integral role in the build out of critical infrastructure,” added Andrew Eversfield, Managing Director of Sound Point Capital’s Direct Lending business. “We have partnered with OceanSound on several transactions, but leading the first platform investment in their second fund was an extra special opportunity. We look forward to supporting OceanSound and Gannett Fleming throughout the Company’s next stage of growth.”
About Sound Point Capital
Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies. Based in New York, with offices in London, Florida and Connecticut, the firm manages money on behalf of institutional investors including top-tier pensions, foundations, insurance companies, wealth management firms and family offices. Sound Point's strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. Sound Point currently manages approximately $32 billion of assets. Five principals of Stone Point Capital LLC, as well as Dyal Capital Partners, a division of Blue Owl Capital Inc. [NYSE: OWL], are strategic investors in our business. For more information, please visit Sound Point's website at www.soundpointcap.com.
About Gannett Fleming
Gannett Fleming is a privately held architecture, engineering, and construction (“AEC”) firm partnering closely with our clients on some of the toughest challenges facing our communities today. We offer comprehensive infrastructure solutions to a wide range of markets, including transportation, life sciences, water resources, education, industrial, federal, power, and energy. Founded in 1915, we are the employer of choice for 2,800+ of the best and brightest in the industry. With a focus on making the built environment safer, as well as more resilient and sustainable, our clients seek us out for our expertise and prefer us for our personal service, innovation, and creative minds. For more information, visit www.gannettfleming.com.
About OceanSound Partners
OceanSound Partners 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. For more information, please visit www.oceansoundpartners.com.
