Sound Point Capital Management acted as administrative agent on a first lien senior secured credit facility to Gannett Fleming, an engineering and infrastructure solutions provider. The financing was used to support the acquisition of the company by OceanSound Partners.
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 works in close collaboration with its customers to develop modern infrastructure solutions that will withstand the forces of a rapidly changing world.
“Sound Point has been a trusted partner to OceanSound and successfully led this transaction during a challenging period in the credit markets,” Addison Nordin, principal at OceanSound, said. “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-plus 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,” Andrew Eversfield, managing director of Sound Point Capital’s direct lending business, said. “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.”