Littlejohn & Co. Partners With GDS Associates to Accelerate Growth in Utility Consulting
Private investment firm Littlejohn & Co., LLC has announced a strategic partnership with the management team and employees of GDS Associates, Inc., a well-established consulting and advisory firm serving the U.S. electric utility sector. The collaboration is designed to support the next stage of growth for GDS while strengthening its ability to assist utilities navigating a rapidly transforming energy landscape.
Through the partnership, Littlejohn and GDS will work together to expand the company’s capabilities, invest in talent and operational infrastructure, and pursue complementary acquisitions. The long-term objective is to build a larger, more comprehensive platform that can provide services across the full lifecycle of utility projects—ranging from consulting and strategic planning to engineering and field services. By combining GDS’s technical expertise with Littlejohn’s investment experience and resources, the two organizations aim to deliver expanded value to utilities across the United States.
Building on a 40-Year Legacy
Headquartered in Marietta, Georgia, GDS Associates has spent more than four decades building a strong reputation within the power sector. Over the years, the firm has become a trusted advisor to electric cooperatives, municipal utilities, and investor-owned utilities throughout the country.
Founded roughly 40 years ago, GDS has steadily grown into a respected consulting organization with approximately 200 professionals working across multiple offices nationwide. The company’s specialists support clients in critical areas such as power supply planning, transmission and interconnection studies, load forecasting, resource adequacy analysis, and regulatory strategy.
The firm’s longevity and reputation stem from its collaborative approach and strong technical rigor. By combining engineering expertise with economic and regulatory insights, GDS helps utilities make complex planning decisions that can shape infrastructure investments and long-term energy strategies. The company has built lasting relationships with its clients by focusing on tailored solutions, objective analysis, and consistent engagement.
With utilities across the United States facing unprecedented shifts in technology, policy, and demand patterns, the role of trusted advisors like GDS has become increasingly important. The partnership with Littlejohn is expected to enhance the firm’s ability to meet these evolving needs while continuing to build on its established reputation.
Leadership Continuity and Cultural Alignment
Despite the new investment partnership, the company will maintain continuity in its leadership and operations. GDS will continue to be led by President David Brian along with the firm’s existing management team. This continuity is intended to preserve the culture, relationships, and values that have defined GDS for decades.
According to the company, the partnership is structured to support growth without disrupting the service model that clients have come to rely on. Teams, client engagement practices, and project methodologies will remain consistent, ensuring that existing relationships continue uninterrupted.
For Littlejohn, preserving the firm’s culture and technical depth was a key factor in pursuing the partnership. The investment firm is known for working closely with management teams and supporting long-term growth strategies rather than implementing short-term structural changes.
Responding to a Rapidly Changing Power Grid
The partnership comes at a time when the U.S. electric power system is undergoing significant transformation. Utilities are grappling with major structural shifts driven by electrification trends, the integration of renewable energy, grid modernization efforts, and a surge in electricity demand from digital infrastructure such as data centers.
These changes are creating new planning challenges for utilities. Long-term resource planning now requires evaluating complex combinations of generation technologies, storage systems, transmission expansion, and distributed energy resources. At the same time, regulatory frameworks and policy mandates continue to evolve.
Michael Kaplan, Managing Director at Littlejohn, emphasized that these industry dynamics were a key motivation behind the partnership.
“The U.S. power grid is rapidly evolving due to demands from electrification, grid modernization, renewable integration, and surging data center growth,” Kaplan explained. “GDS has built a strong reputation supporting utilities through complex planning and decision-making processes. We are excited to partner with David and the talented team at GDS and support the business as they expand their capabilities and provide solutions to utilities nationwide.”
In this environment, consulting firms that can provide technical, regulatory, and economic insights across multiple disciplines are becoming increasingly valuable. The new partnership aims to position GDS as a more comprehensive service provider capable of helping utilities navigate these transitions.
Expanding Services and Strategic Acquisitions
One of the central elements of the collaboration is the plan to expand GDS’s capabilities through targeted investments and acquisitions. Littlejohn and the GDS leadership team intend to identify complementary businesses that can broaden the company’s service offerings or geographic reach.
Potential acquisitions may include firms specializing in engineering services, grid analytics, field implementation, or other areas that enhance the consulting and planning services already offered by GDS. By integrating these capabilities into a single platform, the company aims to deliver end-to-end solutions that support utilities throughout the lifecycle of infrastructure projects.
Such a platform approach could allow utilities to rely on a single advisory partner for multiple stages of a project—from early planning and regulatory analysis to design and implementation support.
In addition to acquisitions, the partnership will focus on organic growth initiatives. These include investments in technology, recruitment of specialized professionals, and development of new service offerings that address emerging challenges in the power sector.
Investing in People and Expertise
For GDS leadership, the partnership is also about strengthening the company’s ability to attract and retain skilled professionals in an increasingly competitive market.
President David Brian highlighted the alignment between the two organizations’ long-term perspectives and commitment to serving utilities with independence and integrity.
“Littlejohn shares our long-term perspective and commitment to serving utilities with independence, expertise, and integrity,” Brian said. “This partnership provides additional resources to invest in our people, strengthen our operational infrastructure, and broaden the services we provide, while preserving the culture and relationships that have defined GDS.”
Charles Leung, Principal at Littlejohn, echoed this sentiment, emphasizing that the company’s greatest asset lies in its workforce.
“The strength of GDS lies in its people and the culture they have built over four decades,” Leung said. “We are committed to supporting GDS in attracting and retaining outstanding professionals, delivering high-quality technical advice, and partnering with like-minded businesses that enhance and expand its service offerings.”
As the utility sector faces increasing complexity—from renewable integration to cybersecurity concerns and advanced grid management—the demand for highly specialized engineering and consulting talent continues to grow. The partnership aims to ensure that GDS remains well positioned to compete for top talent while continuing to deliver high-quality advisory services.
Transaction Advisors and Support
Several advisory firms played key roles in facilitating the partnership transaction. Financial advisory support for Littlejohn was provided by AEC Advisors, through its registered broker-dealer affiliate AEC Transaction Services LLC, along with Environmental Financial Consulting Group.
Legal counsel for Littlejohn was provided by Greenberg Traurig LLP, while Kirkland & Ellis LLP served as debt financing counsel.
The transaction was initiated by Morrissey Goodale LLC, which also acted as the exclusive financial advisor to GDS. Legal assistance for GDS was provided by Lawson & Weitzen LLP, and accounting support was delivered by Frazier & Deeter LLC.
Positioning for the Future
As the U.S. power sector moves through a period of unprecedented change, utilities are seeking partners capable of guiding them through complex infrastructure planning, regulatory requirements, and technological transformation.
By combining GDS’s long-standing technical expertise with Littlejohn’s investment support and growth strategy, the new partnership aims to create a stronger platform capable of addressing these evolving challenges.
For GDS Associates, the collaboration represents both a continuation of its four-decade legacy and the beginning of a new chapter focused on expansion, innovation, and deeper engagement with utilities nationwide.
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