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Atlas to build a deal with Long Engineering
Posted on Thursday, 21 November 2019 13:08
Atlas Intermediate Holdings, better known as Atlas Technical Consultants, is buying US-based civil engineering and land surveying firm Long Engineering for an undisclosed sum.
The deal is scheduled to complete by the end of 2019.
Concurrently, Atlas has also agreed to be acquired by blank check company Boxwood Merger, in a transaction due to close in mid-December this year, subject to shareholder approval and other conditions.
The deal, which is worth USD 709.50 million, will lead to Atlas being listed on Nasdaq and its management team will retain a significant equity stake in the business upon completion.
Georgia-headquartered Long Engineering provides civil, transportation and subsurface utility engineering services, among others.
It also focuses on land surveying and has worked on a number of sites throughout the state, namely the Mercedes Benz Stadium, Atlanta Botanical Garden and Northside Hospital’s main campus.
Long Engineering’s other activities include construction engineering and inspection services, such as concrete and nuclear density compaction testing for city, county and state transportation projects.
As a result of the deal, Atlas will strengthen its operational footprint and build its client relationships in the southeastern parts of the US.
Long Engineering will complement the buyer’s existing construction engineering, transportation surveyance and roadway and bridge design activities.
Atlas’s chief executive, L Joe Boyer, said: “This transaction is part of Atlas’ multi-faceted growth strategy to expand our service offerings and become the preferred provider of professional and technical services in this industry.”
He added the deal would broaden its customer base and create significant revenue opportunities for the future.
Located in Texas, Atlas claims to be a leading provider of professional testing, inspection engineering and consulting services.
The company has over 100 offices in 40 states and is active across the commercial, education, government and healthcare industries.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 950 deals targeting engineering services providers signed off globally since the beginning of 2019.
Capgemini Service bought France’s Altran Technologies for EUR 5.40 billion, in the biggest of these in the year to date.
© Zephus Ltd