Gannett Fleming, a portfolio company of OceanSound Partners and TranSystems, a provider of transportation-focused engineering and infrastructure services, have completed a merger.
The company will now be a provider of infrastructure consulting services with complementary customers and geographic coverage, enhancing the its ability to serve its base of government and commercial clients across North America.
The merger will establish meaningful scale across several critical sub-verticals within the transportation end market, including highways, bridges, mass transit, freight rail and airports. In addition, the transaction will promote 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.
In conjunction with the closing of the transaction, Bob Scaer, Gannett Fleming's CEO, has retired and transitioned to a position on the board of directors. In his new role, Scaer will provide ongoing support, which will include helping to identify and recruit a new CEO and assisting the management team with business development, customer relations and acquisition activities.
“The combination of Gannett Fleming and TranSystems creates a preeminent engineering firm with the scale and depth to solve our clients’ most complex infrastructure challenges,” Scaer said. “This merger bolsters our position within bridges, highways, construction services, mass transit and rail and program management and provides our customers with an end-to-end solution across multiple modes of transportation.”
Tim Rock, CEO of TranSystems, has become president and COO of the company alongside Jim Nevada, president and chief financial officer. They will jointly lead the company while the board leads the search for a new CEO.
“This is a transformational combination that will better position us to capture growth in the market, providing our employees with more career opportunities and our customers with a broader range of services, including complementary offerings in facilities, water and power engineering as part of a larger and more diversified organization,” Rock said. “I am confident our technical excellence, shared cultural values and passion for innovation will facilitate integration, contribute to our strategic value creation initiatives, provide meaningful professional development opportunities for our employees and create long-term value for our communities and clients.”
