Private investment firm GI Partners is to take infrastructure and environmental solutions provider Atlas Technical Consultants private in an all-cash deal valued at around $1.05 billion, including debt, according to a report by Financier Worldwide.
Under the terms of deal, GI Partners will pay Atlas shareholders $12.25 per share in cash, which represents a premium of approximately 124% over the company’s unaffected closing share price of $5.47 on 30 January 2023.
Upon completion of the transaction, which has been unanimously approved by Atlas’ board of directors and is expected to close in the second quarter of the year, the company’s shares will no longer trade on Nasdaq.
Founded in 2001, GI Partners is a private investment firm with over 140 employees and assets under management totalling $35 billion, with an investment focus on companies in the healthcare, services and software sectors.
Its real estate strategy focuses primarily on technology and life sciences properties as well as other specialised types of real estate. In addition, the data infrastructure team invests primarily in hard asset infrastructure businesses in the digital economy.
