Atlas Technical Consultants (ATCX) surges post news of all cash deal

Atlas Technical Consultants, Inc. (NASDAQ:ATCX) last traded at $12.13, a gain of over +6.66 (+121.76%). The stock prices surged after Bernhard Capital, a private equity management firm focused on infrastructure and services, announced that Atlas Technical Consultants, a leading provider of infrastructure and environmental solutions, has agreed to be acquired by GI Partners in an all-cash deal worth approximately $1.05 billion including debt. Atlas is a portfolio company of Bernhard Capital’s Fund I.

Atlas shareholders will receive $12.25 per share in cash, a premium of 124% over the January 30, 2023 closing price of $5.47, according to the terms of the deal.

Bernhard Capital Partners, established in 2013, is a private equity management firm focused on services and infrastructure. It has invested capital in four funds across different strategies and manages approximately $3 billion in assets. The firm aims to generate sustainable value by leveraging its expertise in acquiring, operating, and growing services and infrastructure businesses.