First Reserve Announces Strategic Growth Partnership with WGI

Partnership to Accelerate Company's Growth Through Organic Expansion Initiatives and Strategic Acquisitions

STAMFORD, Conn. and HOUSTON and WEST PALM BEACH, Fla., Jan. 29, 2026 /PRNewswire/ -- First Reserve, a leading private equity firm investing across Infrastructure Solutions, Value-Added Infrastructure and Resources strategies, today announced a strategic growth partnership with WGI, Inc. ("WGI" or the "Company"), a premier engineering, design and infrastructure solutions provider serving transportation, public infrastructure, water resources, geospatial, and related end markets across high-growth regions of the Southeastern United States. Financial terms of the transaction were not disclosed.

Founded nearly 50 years ago and headquartered in West Palm Beach, Florida, WGI delivers technology-driven design and professional services across the full project lifecycle for public- and private-sector clients. The Company serves clients from 23 offices nationwide, providing multidisciplinary expertise spanning transportation design, environmental and water solutions, geospatial and surveying, subsurface utility engineering, building restoration, landscape architecture and land development, and municipal support – enabling integrated delivery across complex infrastructure maintenance and development programs. Ranked among the 200 largest professional design firms in the United States, WGI is recognized for its innovative approach to shaping how communities are planned, designed, and experienced. Through its subsidiary WGI Ventures, the firm owns and operates the software company Streamline Technologies, creator of the flood forecasting platform FloodWise and the stormwater management suite StormWise (formerly known as ICPR4). Both WGI Ventures and Streamline Technologies were included in the investment by First Reserve.

WGI's existing management team, including Chief Executive Officer David S. Wantman, who has served in his role for more than 20 years, will continue to lead the business and retain a meaningful ownership stake in the Company. With the support of First Reserve, WGI will look to expand its technical capabilities, accelerate entry into new markets, and pursue strategic acquisitions to augment and complement the Company's core offerings.

"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," said Jeff Quake, Managing Partner at First Reserve. "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."

"We are excited to partner with First Reserve," said Mr. Wantman. "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."

AEC Advisors, through its registered broker-dealer affiliate AEC Transaction Services LLC, was the exclusive financial advisor to WGI. Lawson & Weitzen, LLP served as legal advisor to WGI.

Simpson Thacher & Bartlett LLP served as legal advisor to First Reserve.

About First Reserve 
First Reserve is a leading private equity firm investing across Infrastructure Solutions, Value-Added Infrastructure and Resources strategies with exposure in energy, utility, and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $35 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. Please visit www.firstreserve.com for further information.

About WGI
WGI is a multidisciplinary consulting firm with 23 offices across ten states and an active client base in 49 states. The firm provides services in roadway and structural engineering, environmental sciences, water resources, geospatial services, land surveying, subsurface utility engineering, land development, municipal engineering, mobility planning, parking solutions, building restoration, landscape architecture, architecture, land planning, and MEP engineering. In 2024, ENR Magazine ranked WGI #171 on its list of the Top 500 Design Firms in the United States and previously named WGI its 2021 Design Firm of the Year in the Southeast. For more information, visit www.WGInc.com.

About Streamline
Streamline Technologies is a leading software development firm specializing in cutting-edge solutions for stormwater management and flood forecasting. For over 40 years, Streamline has empowered engineering professionals, municipalities, and emergency response teams with precise tools to accurately forecast, prepare for, and mitigate stormwater and flooding impacts. Streamline Technologies' mission is to advance innovation in water resources, stormwater management, and flood forecasting for improved resiliency and sustainability in the world around us. For more information, visit www.Streamline.tech.

Contacts

First Reserve:
Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
[email protected]

WGI:
David Wantman, PE / Chief Executive Officer
[email protected]
866.909.2220

Will Schnier, PE / Chief Marketing Officer
[email protected]
512.669.5560

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SOURCE First Reserve