Grovecourt Capital Announces Acquisition of Traffic & Mobility Consultants
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WEST PALM BEACH, Fla., August 28, 2023-- Grovecourt Capital Partners ("Grovecourt"), a West Palm Beach, FL-based private equity firm, is pleased to announce the acquisition of Traffic & Mobility Consultants LLC (“TMC”), a Florida-based engineering company that specializes in transportation planning and traffic engineering. Financial terms of the transaction were not disclosed.
TMC stands as a premier engineering and consulting firm in the traffic and transportation engineering sector. The company has established itself as a leader in meeting the diverse needs of commercial, residential, and municipal clients across the state of Florida. Established in 2012 and having completed nearly 2,500 projects to date, TMC enjoys an exceptional track record and reputation, setting it apart as an industry leader.
Alex Vargas, Managing Partner at Grovecourt, commented, "TMC possesses tremendous opportunities for geographic expansion and continued success as the go-to transportation planning and traffic engineering firm in Florida. We are thrilled to partner with the entire TMC team as they work towards their goal of becoming the leading traffic engineering firm in Florida and the Southeast.”
Matt Bergin, Managing Partner at Grovecourt, added, "TMC stands as the foremost traffic engineering firm with a leading market presence in Florida. We are excited to support Mohammed and the TMC team on the company’s next phase of growth as they execute on organic expansion and engage in strategic M&A.”
Expressing his enthusiasm for the partnership with Grovecourt, Mohammed Abdallah, CEO of TMC, stated, "This investment marks a pivotal moment for TMC. With Grovecourt's support, we will enhance the scope and scale of our offerings, expand our market reach, and continue to deliver the outstanding quality to which our clients are accustomed.” TMC founding partner Corrina Greico added, “As we expand, we will actively seek partnerships with engineering firms that share our vision and commitment to excellence.” Partner Ayman As-Saidi shared, “Our focus on innovative and strategic mobility solutions will continue to result in superior outcomes for our customers and will undoubtedly benefit the communities we serve.”
Greenberg Traurig acted as legal advisor to Grovecourt, and Northwood Ventures and Energy Impact Partners LP provided financing for the transaction. 1858 Capital Partners acted as exclusive financial advisor and Nelson Mullins served as legal advisor to TMC.
About Traffic & Mobility Consultants
Traffic & Mobility Consultants LLC (TMC) was founded in 2012 and is a Florida registered engineering company specializing in Transportation Planning and Traffic Engineering. TMC serves private clients and governmental agencies at the local, county and state levels. TMC has an excellent record of public acceptance and approval of plans. TMC’s solutions are developed with the utmost sensitivity to the needs of the community. TMC’s goal is to provide its clients with the highest quality services, offering innovative, strategic, and effective solutions for safe and efficient mobility. For more information, visit www.trafficmobility.com.
About Grovecourt Capital Partners
Grovecourt Capital Partners is a private equity firm based in West Palm Beach, FL, specializing in investments in founder-led and family-owned businesses in the lower middle market. With a focus on business services, healthcare services, communication services, and industrials, Grovecourt partners with management teams to execute both organic and inorganic growth opportunities, optimize performance, and create long-term value. For more information, visit www.grovecourtcapital.com.
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