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04.03.24

Infrastructure Consulting & Engineering Announces Strategic Investment from Godspeed Capital

Establishes ICE as Godspeed Capital’s New Transportation Design, Engineering, and Consulting Platform Serving the Fast-Growing Southeastern U.S. Transportation Infrastructure Market

Columbia, South Carolina – April 3, 2024 – Infrastructure Consulting & Engineering, PLLC (“ICE” or the “Company”), a premier transportation consulting and engineering firm focused on the Southeastern United States, today announced that it has received a strategic investment from Godspeed Capital Management LP (“Godspeed Capital”), a lower middle-market Defense & Government services, solutions, and technology focused private equity firm. The financial terms of the transaction were not disclosed.
 
Through this investment, Godspeed Capital will partner with ICE’s leadership to establish the Company as the platform brand of a new transportation-focused engineering and consulting services and solutions provider focused on public infrastructure projects in the Southeastern U.S. With decades of expertise across transportation verticals, the ICE platform will offer a full suite of transportation design, consulting, and engineering services including roadway, bridge, and structure design, construction engineering and inspection (“CE&I”), construction / program management (“CM / PM”), surveying, civil engineering, aviation planning, foundation testing, and geotechnical, environmental, and permitting services for customers across some of the fastest-growing markets in the U.S.
 
Founded in 2013 and headquartered in Columbia, South Carolina, ICE is a market-leading, pure-play transportation engineering firm that serves major state Departments of Transportation, counties, municipalities, and select private clients across the Southeastern U.S. Over the past decade, the Company has built a stellar reputation as a trusted design partner with deep relationships, a diverse set of high-end service capabilities, and a talented bench of more than 500 professionals across 23 offices in states including North and South Carolina, Georgia, Florida, Louisiana, Texas, Virginia, and West Virginia. ICE is consistently ranked among the top design firms in the U.S. and maintains a significant pipeline of contracted projects, with a strong track record of successful projects to date including, but not limited to, the widening of I-85, I-26, and I-95, the I-285 / I-20 East Interchange project, and the reconstruction of I-285 / SR 400 Interchange improvements in Atlanta, Georgia.
 
Godspeed will utilize its extensive experience across the engineering and consulting and government services landscape to accelerate the Company’s growth, as the U.S. transportation industry is primarily funded by federal, state & local governments that are increasingly seeking to rebuild aging public infrastructure, as well as respond to strong population dynamics in ICE’s end-markets, through projects requiring both public and private support.
 
ICE’s President & Chief Executive Officer Elham Farzam, PE, an industry veteran with over 40 years of experience in the transportation consulting market, will continue to lead the Company with his two founding partners, Peter Graf, PE, and Billy Coleman, PE, as well as a very seasoned management team. ICE will work with Godspeed Capital to expand the platform’s geographic footprint and business development ambitions, forge new relationships in strategic markets, and broaden its service offerings through both an organic and inorganic acquisition growth strategy. The current ICE management team will remain intact and retain a significant equity position in the platform.
  
Elham Farzam, said, “We are thrilled to collaborate with Godspeed Capital, whose track record of success cultivating full-service engineering and consulting platforms in high-barrier-to-entry markets and deep expertise working with management teams will meaningfully accelerate our efforts to scale our operations, broaden our service capabilities, and expand into new geographies. We look forward to working with the Godspeed team to further bolster our operations, invest in our talented team, and identify growth acquisitions to help us build our platform.”
 
Douglas T. Lake, Jr., Founder & Managing Partner of Godspeed Capital, added, “ICE has established itself as the premier transportation design and engineering partner in the Southeastern U.S. thanks to its proven executive leadership team, scalable operating model, and strong track record within a competitive and fast-growing sector of the transportation infrastructure market. We are pleased to partner with ICE to support the next phase of its growth by expanding design capabilities, bolstering operational capacity, and pursuing add-on acquisitions to make the platform the premier partner for municipal, state, and federal transportation clients.”
  
AEC Advisors LLC served as the exclusive financial advisor to ICE and Lawson and Weitzen LLP acted as legal advisor. Latham & Watkins LLP acted as legal advisor to Godspeed Capital.

About Infrastructure Consulting & Engineering

Infrastructure Consulting & Engineering (ICE) is a full-service transportation consulting and design firm focused on public infrastructure projects in the Southeastern U.S. Founded in 2013 and headquartered in Columbia, South Carolina, ICE maintains 23 offices across states including North and South Carolina, Georgia, Florida, Louisiana, Texas, Virginia, and West Virginia and consistently ranks among the top transportation design firms nationwide. For more information, please visit www.ice-eng.com.

About Godspeed Capital Partners

Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations. For more information, please visit the Godspeed Capital website at www.godspeedcm.com.

Contact

For Godspeed Capital:
Alex Jeffrey/Iain Hughes
Gasthalter & Co.
(212) 257-4170
godspeed@gasthalter.com

 
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