March 10, 2014
Surveying And Mapping, Inc. (SAM, Inc.), a leading provider of geospatial solutions in North America, is pleased to announce that it has completed an investment agreement with Austin Ventures, a nationally recognized venture capital firm. The transaction will position the company for the next stage of its growth, expanding both its service capabilities and geographic coverage.
SAM, Inc. has been one of the fastest-growing firms in the surveying and mapping and geospatial solutions industry. The company is committed to building on this success by expanding its services, markets and geographic presence. This investment by Austin Ventures will enable the company to aggressively grow its suite of services in both its existing geographic areas as well as new ones with the potential for expansion through acquisition.
The SAM, Inc. leadership team will continue to hold a significant ownership position. Founder and President of SAM, Inc., Samir "Sam" G. Hanna, RPLS, will remain as CEO and President of the company and there will be no changes to the management team or how the firm currently operates.
Mr. Hanna emphasizes the company will continue to operate according to the same values, culture, and disciplined decision-making that have contributed to the company's success so far. "We have received investment inquiries from many groups over the years and have been most impressed with the Austin Ventures team. They will be a great partner because they understand our culture and business philosophies," said Mr. Hanna. "Partnering with Austin Ventures will enable us to continue our plans for the exciting growth opportunities ahead, as well as provide for increasing opportunities for promotion and advancement from within the ranks of our talented group of employees. We are very excited about this new phase of growth for our firm and we anticipate that it will have very positive benefits for both our employees and customers."
Austin Ventures was selected as an investment partner for SAM, Inc. after a lengthy evaluation process, ultimately being chosen due to its outstanding 30-year record of success helping management teams build great companies. Both firms are headquartered in Austin, Texas, and there is also a strong sense of shared community between the two leadership teams.
"We are excited to invest in SAM, Inc. and partner with Sam Hanna and his accomplished senior management team," said Vernon Bryant, Partner at Austin Ventures. "The company's sophisticated suite of geospatial solution services, focus on advanced technology, experienced management team and growing geographic base have it well positioned for continued growth. Over the last few years, we have evaluated numerous companies tied to the ongoing and significant investment in North America's infrastructure, and the depth, experience and professionalism of this management team is rivaled by few. This transaction will enable SAM, Inc. and its subsidiary, SAM-Construction Services, Inc., to continue to execute on their internal growth initiatives, as well as explore accretive acquisitions. Furthermore, the philosophy of SAM, Inc.'s management team mirrors that of Austin Ventures - we are each dedicated to a long-term partnership, which focuses on prudently capitalized value creation," stated Mr. Bryant.
Duff & Phelps Securities, LLC and its investment banking team, led by David Sargent, Managing Director, served as the exclusive financial advisor to the company in the transaction.
Senior debt financing for the transaction is being provided by co-lead arrangers Comerica Bank and JP Morgan Chase, along with Texas Capital Bank, Amegy Bank, and GE Antares.
About Surveying And Mapping, Inc.
Founded in 1994 in Austin, Texas, Surveying And Mapping, Inc. is a leading independent full-service provider of land surveying and mapping capabilities for clients in the domestic infrastructure industry. Supported by state-of-the-art technology, the company offers end-to-end geospatial solutions through an extensive suite of services, including professional land surveying, hydrographic surveying, aerial mapping and photogrammetry, airborne, mobile, and terrestrial HDS LiDAR, subsurface utility engineering, utility coordination, geographic information system (GIS) asset inventory and management, as well as construction phase services through SAM-Construction Services, Inc. The company delivers its services to clients across a wide range of attractive, growth-oriented end markets, including oil and gas, electric energy, transportation, railway, water/wastewater, and other infrastructure-related industries. Competing in a diverse market traditionally served by regional and many small niche service providers, SAM, Inc. has evolved into one of the few national land surveying and mapping service providers with the breadth of service offerings, depth of staff, strategic locations, and financial capacity to effectively support all surveying and mapping-related activities for large-scale capital projects and ongoing maintenance requirements.
About Austin Ventures
Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for over 30 years. With $3.9 billion of capital raised, AV is the most active venture capital firm in Texas and one of the most established in the nation. AV invests in early stage and middle market companies, and its strategy is to partner with talented executives and entrepreneurs to build industry-leading companies predominantly in Texas. AV's middle market investment team typically becomes involved as a company is seeking to partner with a local, growth-oriented financial sponsor. It is often the first source of institutional capital providing businesses with liquidity, offering strategic direction, and empowering management to invest aggressively in growth initiatives. AV's middle market equity investments usually range in size from $25 million to $100 million. Texas middle market companies and entrepreneurs have chosen to work with Austin Ventures because of its unique value proposition, strong long-standing relationships, and proven track record of success.
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