Consor Holdings Announces Growth Investment from New Mountain Capital

NEW YORK–(BUSINESS WIRE)–Consor Holdings LLC, a leading provider of transportation and water infrastructure engineering and consulting services, and New Mountain Capital, LLC, a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced a significant investment from affiliates of New Mountain to support the Firm’s continued growth. Consor’s leadership team and employees retained a significant ownership stake in the Firm.

With roots dating back over 40 years, Consor provides civil infrastructure planning, engineering design, structural assessment, program management, and consulting services to public and private sector clients across transportation and water markets. Consor is well-established in the largest, growing markets within North America.

“New Mountain is our ideal partner. They believe in our long-term vision and bring extensive industry experience that will help us expand our potential,” said Chris Rayasam, CEO of Consor. “We’re excited about the many ways New Mountain will help support our growth through strategic planning, technology enablement and operational efficiency. This partnership will cultivate more career opportunities for our team members and make an even greater impact on the communities we serve.”

Lars Johansson, Managing Director at New Mountain, said, “Our investment in Consor is the result of New Mountain’s long-standing effort investing in infrastructure services and technology businesses. Chris and the leadership team have built an outstanding business with expertise in key end markets we believe in and that have continual growth opportunities. We are excited to partner with the entire Consor team to continue their strategy of building a legacy as the team of choice for delivering infrastructure solutions.”

“We are thrilled to be partnering with Consor to continue to elevate their brand as industry leaders” said Joe Walker, Managing Director at New Mountain. “We are looking forward to helping Consor expand its geographic reach and service offerings, through a combination of best-in-class organic growth and strategic M&A, to achieve its long-term vision.”

As part of this transaction, Keystone Capital will fully sell its stake in the business after a strong, multi-year partnership with Consor.

“Chris and his team have built an incredible firm with full-service capabilities and an exemplary reputation, and we’ve been proud to support them in their journey,” said Scott Gwilliam, Managing Partner at Keystone Capital. “Consor has tremendous growth potential, and we wish the team great success for the next chapter.”

AEC Advisors LLC served as financial advisor and Ropes & Gray LLP served as legal advisor to New Mountain Capital. Harris Williams and Houlihan Lokey served as financial advisors and DLA Piper served as legal advisor to Consor and Keystone Capital.

About Consor

Consor is a leading North American transportation and water infrastructure consulting firm offering planning, engineering design, structural assessment, program management, and construction services. Consor has deep relationships with state departments of transportation, municipalities, utilities and other public and private clients throughout the United States and Canada. With over 1,700 employees, Consor is focused on going above, below, and beyond the surface to move people and communities forward by maintaining and improving critical infrastructure. For more information on Consor, please visit

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $50 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit

About Keystone Capital

Keystone was founded in 1994 with the objective of investing the personal capital of its partners in high quality, market-leading businesses; patiently building long-term value alongside management through organic growth and strategic acquisitions. Keystone currently manages over $1 billion in capital across two funds. To maintain consistency with its historical investment strategy and align interest across all stakeholders, the principals of Keystone collectively represent the largest single investor in both of these funds, which have been structured with an extended life to support Keystone’s belief in investment period flexibility. In addition to its long history investing in engineering services, Keystone focuses on professional & tech-enabled services, technical services, commercial & industrial services, food & beverage manufacturing, and industrial technology. For more information on Keystone Capital, please visit