- When the deal closes, Atlas will no longer trade on the NASDAQ
- Austin-based Atlas is an engineering services firm
- The transaction is expected to close in the second quarter of this year
GI Partners has agreed to acquire Atlas Technical Consultants in a take-private deal valued at about $1.05 billion.
According to terms of the deal, Atlas shareholders will receive $12.25 per share in cash. When the deal closes, Atlas will no longer trade on the NASDAQ.
Austin-based Atlas is a provider of infrastructure and environmental solutions. The company was backed by Bernhard Capital.
“Since founding Atlas in 2017, we have built one of the largest pure-play professional and technical services businesses, serving infrastructure and environmental markets in the United States,” said L. Joe Boyer, Atlas’ CEO in a statement. “This transaction recognizes the value our team has created over the last five years. Our partnership with GI Partners represents a new and exciting chapter for our employees and our customers. We are aligned in delivering exceptional service and helping our clients design and complete infrastructure projects that improve their communities.”
The transaction is expected to close in the second quarter of this year.
BofA Securities is serving as financial advisor to Atlas while Kirkland & Ellis LLP and Potter Anderson & Corroon LLP are serving as legal counsel.
Ropes & Gray LLP is serving as legal counsel to GI Partners in connection with the transaction.
Founded in 2001, GI Partners has assets under management totaling $35 billion. The firm invests primarily in companies in the healthcare, services, and software sectors.