Atlas Technical Consultants Inc (ATCX)

[EquityMonster83]

https://finance.yahoo.com/news/atlas-technical-consultants-announces-agreement-201500349.html


Strengthens transportation testing, inspection and engineering capabilities in West Coast and Northeast -

AUSTIN, Texas, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading provider of professional testing, inspection, engineering, program management and consulting services, announced today that it has entered into a definitive agreement to acquire Alta Vista Solutions, Inc. (“Alta Vista”), a key provider of transportation-related testing and inspection services, headquartered in Oakland, California. Alta Vista has approximately 100 employees, operating out of four offices in California and one office in New York City, bringing a broad array of construction engineering, materials testing, inspection, quality management, asset management and infrastructure services.

L. Joe Boyer, Atlas’ Chief Executive Officer, said, “Alta Vista’s transportation focus, wide range of services and established presence in California and New York will provide an exceptional fit for Atlas. The ability to self-perform more work is a key part of our growth strategy. With our combined expertise and infrastructure focus, we will be able to more thoroughly service customers in two key regions where investment in transportation is an increasing priority for state and local governments. We look forward to welcome Alta Vista’s talented team to our rapidly growing company.”

Patrick Lowry, P.E., President of Alta Vista, stated, “Similar to Atlas, we have built our business through a reputation for high-quality work and delivering comprehensive services to customers. Atlas’ scale, resources and shared passion for excellence represent an exciting new chapter for our business. We look forward to continue providing our combined client base with innovative technical solutions.”

Mazen Wahbeh, PH.D., P.E., Executive Chairman of Alta Vista, added, “I am extremely proud of the company we have built together with our dedicated employees. Atlas fits squarely with our desire to quickly scale our business in both existing and new markets. We are very excited to become part of Atlas and to further build on our successful history.”

The transaction is expected to close in the third quarter of 2020. The terms of the acquisition were not disclosed.