Atlas Technical ConsultantsCompletes Acquisition of Long Engineering
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 closed on its previously-announced acquisition of Long Engineering, Inc. (“Long Engineering”). Headquartered in Atlanta, Georgia, Long Engineering provides land surveying, construction engineering, design and inspection services to a broad range of customers in the transportation, infrastructure and commercial end markets throughout the Southeast.
Since its inception, Atlas has strategically strengthened its capabilities and widened its footprint through acquisitions of premier national and large regional technical service companies to create an industry-leading platform. The addition of Long Engineering will further enhance Atlas’ suite of services and deepen key client relationships in one of the nation’s fastest growing regions.
Long Engineering will expand Atlas’ operations in Georgia and Alabama to include bridge hydraulics and private civil site expertise, as well as subsurface utility engineering. In addition, Long Engineering will complement Atlas’ existing services in roadway and bridge design, transportation-related surveying, construction engineering and inspection services. The acquisition will also allow Atlas to cross-sell its diverse set of services to existing clients while attracting new customers through its enhanced platform of capabilities.
L. Joe Boyer, Chief Executive Officer of Atlas, said, “This transaction directly aligns with our commitment to driving long-term revenue growth by acquiring companies that enhance our footprint, client base and services. With our Company now public, we are prepared to harness our resources to win larger projects, expand our services, broaden our customer base and capitalize on attractive growth opportunities ahead. We look forward to building on our momentum and experience to advance Atlas’ multi-faceted growth strategy.”
Established by Ellen Long, PE in 1997, Long Engineering is a well-known leader in transportation and civil engineering services and was recognized in 2018 as a Hot Firm, and one of the Best Firms to Work For by the Zweig Group.
Shepherd Long, Long Engineering’s Chief Executive Officer, stated, “Atlas shares our commitment to providing quality services for clients and embracing a culture of passion, empowerment and development for its valued employees. We are excited to begin our next chapter of growth as a part of the Atlas family.”
About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of professional testing, inspection engineering and consulting services under the name Atlas Technical Consultants, offering solutions to public and private sector clients in the transportation, commercial, water, government, education and industrial markets. With more than 100 offices in 40 states and 3,200+ employees, Atlas provides a broad range of mission-critical technical services, helping clients test, inspect, certify, plan, design and manage a wide variety of projects across diverse end markets. For more information, go to https://www.oneatlas.com.
This press release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, the benefits of the business combination and the growth and performance prospects of the Company. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the parties’ views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to: (1) the ability to maintain the listing of the Company’s shares of Class A common stock and warrants on Nasdaq; (2) the ability to recognize the anticipated benefits of the business combination or the acquisition of Long Engineering, which may be affected by, among other things, competition, the ability of the Company and Long Engineering to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (3) costs related to the business combination and the acquisition of Long Engineering; (4) changes in applicable laws or regulations; (5) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (6) other risks and uncertainties indicated from time to time in the definitive proxy statement, as supplemented, filed by Boxwood with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the business combination, including those under “Risk Factors” therein, and other factors identified in Boxwood’s prior and future filings with the SEC, available at www.sec.gov.
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