Welcome to our dedicated page for Atlas Technical Consultants news (Ticker: ATCX), a resource for investors and traders seeking the latest updates and insights on Atlas Technical Consultants stock.
Atlas Technical Consultants Inc. (ATCX) delivers essential testing, inspection, and engineering services for critical infrastructure nationwide. This news hub provides investors and industry professionals with authoritative updates on the company's strategic contracts, technological advancements, and regulatory milestones.
Discover timely reports on ATCX's public-sector partnerships, including transportation infrastructure inspections and multi-year government contracts. Track innovations like AI-driven data collection tools and specialized software deployments that enhance operational efficiency across 3,300+ employees.
Key updates include federal compliance achievements, major project awards, and advancements in structural assessment methodologies. All content is verified for accuracy, offering neutral insights into ATCX's role in maintaining national infrastructure standards.
Bookmark this page for consolidated access to Atlas Technical Consultants' official announcements and analysis of their market position in engineering services. Check regularly for developments impacting public-sector project execution and long-term growth strategies.
Atlas Technical Consultants has successfully completed its acquisition by GI Partners in a cash transaction valued at approximately $1.05 billion, including debt. Approved by stockholders on March 29, 2023, the deal gives Atlas stockholders $12.25 per share, a 124% premium over its pre-announcement price of $5.47. Following this acquisition, Atlas' common stock will be delisted from Nasdaq. The CEO expressed optimism about the new ownership and aims to accelerate growth and enhance customer value.
This acquisition positions Atlas to leverage GI Partners' resources for improved infrastructure and environmental solutions, although potential risks associated with private ownership and operational changes exist.
Atlas Technical Consultants (Nasdaq: ATCX) reported a successful fourth quarter and full year 2022, marked by a 4% increase in gross revenue, totaling $151.0 million in Q4 and $604.8 million for the full year. The company achieved a 19% growth in Adjusted EBITDA, reaching $87.2 million. A significant backlog of $877 million was noted, up 8.5% year-over-year. Atlas is set to be acquired by GI Partners for $12.25 per share, offering a 124% premium to its January 30, 2023 closing price of $5.47. Completion of the merger is expected in Q2 2023.
Atlas Technical Consultants (Nasdaq: ATCX) announced a new contract with the East Baton Rouge Parish Recreation and Parks Commission, valued at $6 million over three years, for managing capital improvement projects totaling approximately $100 million. The firm will provide program management services, including budget development and environmental oversight, enhancing community park facilities. CEO L. Joe Boyer emphasized the importance of parks in local communities and expressed gratitude for the opportunity to contribute.
Bernhard Capital Partners announced the acquisition of Atlas Technical Consultants (Nasdaq: ATCX) by GI Partners in an all-cash deal valued at approximately $1.05 billion, including debt. Atlas shareholders will receive $12.25 per share, reflecting a 124% premium over its closing price of $5.47 on January 30, 2023. Founded in 2017, Atlas has grown through 19 acquisitions under Bernhard Capital's management, now employing over 3,500 people nationwide. This transaction marks a significant milestone in their expansion strategy and is expected to leverage Atlas' market position in infrastructure and environmental solutions.
Atlas Technical Consultants (Nasdaq: ATCX) has announced its acquisition by GI Partners in a $1.05 billion all-cash deal, including outstanding debt. Shareholders will receive $12.25 per share, representing a 124% premium over the previous closing price of $5.47. The transaction, approved by Atlas' Board of Directors, is expected to close in the second quarter of 2023, pending shareholder and regulatory approvals. This acquisition is aimed at enhancing shareholder value and acknowledges the company's growth since its founding in 2017. Upon completion, Atlas will become a private entity and will cease trading on Nasdaq.
