First Reserve has entered into a strategic growth partnership with WGI, an engineering, design, and infrastructure solutions provider focused on transportation, public infrastructure, water resources, geospatial services, and related end markets across high-growth regions of the Southeastern United States. Financial terms were not disclosed.
Founded nearly 50 years ago and headquartered in West Palm Beach, Florida, WGI provides technology-driven design and professional services across the full project lifecycle for public- and private-sector clients. The firm operates from 23 offices nationwide and offers multidisciplinary capabilities that include transportation design, environmental and water solutions, geospatial and surveying, subsurface utility engineering, building restoration, landscape architecture and land development, and municipal support.
As part of the transaction, First Reserve’s investment also includes WGI Ventures, WGI’s subsidiary, and Streamline Technologies, a software company owned and operated by WGI Ventures. Streamline is the developer of FloodWise, a flood forecasting platform, and StormWise, a stormwater management suite formerly known as ICPR4.
WGI’s existing leadership team will continue to run the business, led by Chief Executive Officer David S. Wantman, who has held the role for more than 20 years. Management will also retain a meaningful ownership stake. With First Reserve’s backing, WGI plans to expand technical capabilities, accelerate entry into new markets, and pursue strategic acquisitions that complement its core offerings.
WGI said it serves clients from 23 offices across ten states and maintains an active client base in 49 states. The company has been recognized in industry rankings, including ENR Magazine’s 2024 list of the Top 500 Design Firms in the United States, where WGI was ranked #171.
AEC Advisors, through its registered broker-dealer affiliate AEC Transaction Services LLC, served as WGI’s exclusive financial advisor. Lawson & Weitzen, LLP advised WGI legally, while Simpson Thacher & Bartlett LLP served as legal advisor to First Reserve.
KEY QUOTES
“David and his team have built an exceptional business defined by technical excellence, strong leadership and deep client relationships and we are looking forward to partnering with the WGI team as they embark on a new chapter of growth. Across the U.S. infrastructure, owners are faced with aging assets, population growth and increasing resilience requirements, driving sustained demand for the multidisciplinary expertise WGI provides. First Reserve has a strong track record of scaling full-service engineering firms, and we look forward to capitalizing on our shared commitment to innovation and excellence to create meaningful long-term value for WGI and its stakeholders.”
Jeff Quake, Managing Partner, First Reserve
“We are excited to partner with First Reserve. Their deep experience in the architecture and engineering space, combined with their operational expertise and long-term perspective, aligns perfectly with our vision for growth and innovation. This partnership strengthens our ability to deliver exceptional value to our clients and the communities we serve, while creating career enhancement opportunities for our best-in-class team.”
David S. Wantman, Chief Executive Officer, WGI
