WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Comvest Partners (“Comvest”), an operationally focused middle-market private investment firm, is pleased to announce that its private equity platform investment GAI Consultants, Inc. (“GAI”), a preeminent planning, engineering, and environmental consulting firm with locations throughout the United States, has acquired Eland Engineering, LLC (“Eland”, or the “Company”), a Fort Lauderdale-based regional provider of engineering consulting and field maintenance services for Intelligent Transportation Systems (ITS) and traffic signal systems. With the transaction, Eland becomes a division of GAI.
Founded in 2009 by Bo Qian, Eland is a recognized leader in the Florida ITS market. Eland’s solutions span project design, implementation, operations, and maintenance. The Company’s expertise encompasses all areas of ITS, including fiber optic and wireless communication technologies, dynamic messaging systems, traffic signal control systems, vehicle detection systems, and connected autonomous vehicles systems.
“The acquisition of Eland brings unique ITS expertise and capabilities that further strengthen GAI’s distinguished position in the transportation engineering and consulting market,” said Kevin LaHatte, a Partner at Comvest. “State and municipal governments are increasing their infrastructure investments, which include building smart cities and improving traffic control and management technologies. Comvest looks forward to continuing to support GAI’s growth and investment in strategic acquisitions.”
“We are excited to welcome Bo and the entire Eland team to GAI. With veteran leadership, a terrific team, and complementary expertise in cutting-edge ITS solutions, Eland is an excellent fit for GAI,” said Gary DeJidas, GAI’s Chairman and CEO. “As GAI advances our nationwide presence and impact, we will continue to identify and invest in people and capabilities that are difference-makers for our clients.”
GAI – which serves local and global companies as well as large government agencies in the energy, transportation, development, government, and industrial sectors – has won more than 70 Engineering Excellence Awards. GAI also has been annually ranked by Engineering News-Record as one of the Top 200 Environmental Firms since 2008 and as one of the Top 500 Design Firms since 2006.
Cross Keys Capital served as financial advisor and Silverman Schermer served as legal advisor to Eland in connection with the transaction. Stifel served as financial advisor and Akerman LLP served as legal advisor to GAI and Comvest in connection with the transaction.
About Eland Engineering
Eland Engineering, LLC, A GAI Company specializes in providing engineering consulting and field maintenance services in the field of Intelligent Transportation Systems (ITS) and traffic signal systems. For more information, please visit: www.elandeng.com
About GAI Consultants
Transforming ideas into reality® since 1958, GAI Consultants delivers award-winning engineering, planning, and environmental expertise to energy, transportation, development, government, and industrial clients. GAI’s accomplished specialists are dedicated to earning clients’ trust—they approach every initiative with enthusiasm and integrity, delivering multifaceted services to meet the greatest challenges. For more information, please visit www.gaiconsultants.com
About Comvest Partners
Comvest is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $9.3 billion in assets, and has invested over $11 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.
