Atlas Technical Consultants Acquires TranSmart Technologies, Inc.
AUSTIN, Texas, March 15, 2022 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (NASDAQ:ATCX) ("Atlas" or the "Company"), a leading Infrastructure and Environmental solutions provider, announced today that it has acquired TranSmart Technologies, Inc. ("TranSmart") a transportation engineering technology leader in Intelligent Transportation Systems (ITS), Connected and Autonomous Vehicles (CAV), electrical and traffic engineering, and other transportation engineering services.
With over 100 employees, TranSmart has successfully integrated their innovative technology practice, including ITS and CAV, with their reputable civil, structural, and multimodal engineering disciplines to create a full-service design firm capable of addressing both technological and traditional challenges in transportation infrastructure. This synergistic integration of traditional transportation engineering with a focus on innovative and emerging technology applications has positioned TranSmart to improve the overall safety, efficiency, and sustainability of our transportation networks.
"The addition of TranSmart is directly aligned with our focus on addressing the nation's most complex environmental and infrastructure challenges, including how people live, work, and move around their communities," said L. Joe Boyer, Atlas' Chief Executive Officer. "TranSmart has a well-respected brand with tenured customer relationships and offers highly sought-after tech-enabled services. As the demand for ITS and CAV capabilities continues to grow for both new and existing transportation infrastructure, we expect to leverage TranSmart's high value technology services across our national customer base, allowing us to drive revenue synergies and strengthen our service offerings. We are pleased to welcome the TranSmart team to Atlas."
The President and CEO of TranSmart, Connie Li, PhD, P.E., who will continue leading the TranSmart team following this transaction, stated, "For over 30 years, we have built a reputation of excellence by bringing ITS and other tech-enabled solutions to our industry. We have strategically combined our experience in innovative technologies with our long-standing traditional engineering design disciplines to position TranSmart for outsized growth in the fast-changing transportation infrastructure industry. As a part of the Atlas family, we are thrilled to provide an enhanced suite of capabilities to our clients, as well as expand our services into larger projects and new markets such as Georgia, Texas, New York, Florida, California, and beyond."
The acquisition is deleveraging to Atlas' balance sheet and was funded with a mix of cash and stock. Terms were not disclosed.
About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of Infrastructure and Environmental Solutions. We partner with our clients to improve performance and extend lifecycle of built and natural infrastructure assets stressed by climate, health, and economic impacts. With 3,600+ employees nationwide, Atlas brings deep technical expertise to public- and private-sector clients, integrating services across four primary disciplines: Environmental; Testing, Inspection and Certification; Engineering & Design; and Program, Construction, and Quality Management. To learn more about Atlas innovations for transportation, commercial, water, government, education, and industrial markets, visit https://www.oneatlas.com.
About TranSmart
With offices in four states, including its headquarters in Chicago, Illinois, TranSmart, a full‐service, multi-disciplinary consulting firm, provides planning, engineering, and construction-related services to public and private sector clients. TranSmart specializes in Intelligent Transportation Systems (ITS), Connected and Autonomous Vehicles (CAV), civil, traffic, structural, multimodal, and electrical engineering services. TranSmart's team of dedicated, and experienced engineers and specialists have successfully led and completed transportation projects covering all phases from conception through operations and maintenance. Visit https://transmartinc.com
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