What Are the Top OceanSound Government Contracts?
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OceanSound Partners is a private equity firm focused on growth. It actively invests in mid-market technology companies that operate in business-to-business and business-to-government markets. The company’s collective expertise includes digital transformation, regulatory compliance, and government funding. Here is a list of OceanSound government contracts through its portfolio companies.
What Are OceanSound Partners Portfolio Companies?
OceanSound Partners’ portfolio companies generate over $2.3 billion in revenue and employ over 9,000 professionals. They enable OceanSound to provide a wide range of services to businesses, from transformation capital to software and hardware. These are also responsible for the company’s flexibility in investment across various transactions and federal markets through customized approaches for every situation.
- CFM: CFM is a top software provider that combines branch technology and core banking systems to enhance modern retail banking experiences and strategies for financial organizations. It currently serves more than 650 credit unions and back customers.
- DMI: Digital Management, LLC (DMI) provides digital transformation and managed mobility services to government and commercial customers. It has years of experience bringing digital transformation to the federal government by offering agile software development and engineering solutions.
- Gannett Fleming: Gannett Fleming provides consulting services for planning, design, technology, and construction management in the areas of transportation, energy, federal, and water.
- Lynx Software Technologies: Lynx is the world’s leading provider of the safest and most secure real-time systems for customers in the aerospace, defense, critical infrastructure, and industrial end markets.
- Netrix: Netrix is an IT consulting firm that delivers managed IT services and IT infrastructure solutions. The company’s services include cybersecurity and managed services to tailored cloud strategies and Office 365 for small and midsize enterprise customers.
- RMA Group of Companies: RMA Group of Companies is a top provider of technology-enabled inspection, laboratory testing, and quality management services for private and public infrastructures in diverse commercial and government customers in the transportation, power, water, and healthcare industries.
- SMX: SMX was established in 2019 when Smartronix and Trident Technologies joined and rebranded as SMX. The initiative’s goals were to expand investments in its platform, respond to evolving market dynamics, and meet the requirements of its customer base. Arena Strategic Advisors provided due diligence and strategy support to OceanSound Partners and SMX.
OceanSound Partners Government Contracts
Here is a list of contracts obtained by OceanSound Partners’ portfolio companies from government customers.
1. Health Resources and Services Administration’s Electronic Handbook Modernization, $112 Million
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- Portfolio company: DMI
- Contracting activity: Health Resources and Services Administration (under the Department of the Health and Human Services)
- Amount: $112 million
- Contract type: Single-award blank purchase agreement
- Contract duration: 5 years
In August 2020, the Health Resources and Services Administration awarded OceanSound Partner’s portfolio company DMI a five-year contract with a $112 million ceiling.
Under the Electronic Handbook (EHB) program, DMI will modernize its Electronic Handbook by delivering strategy and innovation program support through innovative technologies, such as hybrid cloud platforms, infrastructure automation, and DevSecOps. The electronic handbook serves as an online solution for business processes (e.g., grants management) to become more manageable.
The Health Resources and Services Administration (HRSA) is a federal agency responsible for improving access to healthcare services that are isolated, uninsured, or medically vulnerable patients, including COVID-19 claims reimbursement.
2. Federal Deposit Insurance Corporation’s Managed Services Task Order, $256 Million, $256 Million
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- Company: DMI
- Contracting activity: Federal Deposit Insurance Corporation
- Amount: $256 million
- Contract duration: 7.5 years
In July 2021, Federal Deposit Insurance Corporation awarded DMI a $256-million managed services contract. Under the 7.5-year task order, DMI will provide infrastructure support services, including network operations and data center modernization, service desk, cloud migration, integration of communication tools, and more. This initiative helps FDIC to enhance operational efficiency and use experience and save on IT costs.
3. U.S. Army Corps of Engineers’ Construction and Modification of Buildings in the Baltimore District, $40 Million
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- Portfolio company: Gannett Fleming
- Contracting activity: U.S. Army Corps of Engineers (USACE)
- Amount: $40 million
- Contract duration: 5 years
In May 2020, the joint venture of Gannett Fleming and Dewberry Design was selected as one of the six companies for the five-year contract valued at $40 million. Under the IDIQ contract agreement, the team will do the following in the Baltimore District, which is the USACE’s second-largest civil works district in USACE:
- Renovate training facilities
- Build new recreation centers, laboratories, and warehouses
- Renew electrical systems
- Add a new utility infrastructure, ventilation, and conditioning systems
4. U.S. Army’s Assault Aircraft Program Services Contract, $84.5 Million
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- Portfolio company: SMX
- Contracting activity: U.S. Army
- Amount: $84.5 Million
- Contract duration: 5 years
In June 2022, SMX secured an estimated $84.5 million contract from the U.S. Army. Under the Future Long Range Assault Aircraft (FLRAA) program services contract, SMX will provide acquisition and strategic planning, logistics, and engineering services to the U.S. Army and PEO aviation. This award lets SMX extend its support to the Future Vertical Lift program until 2027, allowing SMX to provide long-term support for one of the Army’s biggest modernization projects.
5. U.S. Transporation Command’s Traffic Engineering Analysis Contract, $18.9 Million
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- Portfolio company: Gannett Flemming
- Contract type: Indefinite delivery, indefinite quantity, firm-fixed-price contract
- Contracting activity: U. S. Transportation Command
- Amount: $18.9 million
- Contracting duration: 5 years
In September 2018, Gannett Fleming received an estimated $18.9-million ceiling contract from the U.S. Transportation Command. The IDIQ contract requires Gannett Fleming to perform engineering analysis, traffic engineering publication, tools and traffic studies, and training materials for the U.S. Army’s Surface Deployment and Distribution Command. The work is in Camp Hill, Pennsylvania, with an expected completion date of September 2023.
About OceanSound Partners
OceanSound Partners is a New York-based private equity firm focused on technology-enabled companies founded in 2019. The firm’s mission is to serve government and enterprise end markets through OceanSound government contracts and company acquisitions. They partner with executives, founders, and entrepreneurs of middle-market technology businesses to help them discover their growth objectives and unleash their potential.
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