Australian-based contractor Cardno Ltd. announced that it has completed the sale of ATC Associates Inc. to private equity firm Bernhard Capital Partners for approximately $64M. ATC provides environmental and testing services, buildinng sciences, geotechnical engineering and construction materials testing. Cardno acquired ATC in March of 2012 for $106M but decided to divest the business as part of its strategic review since according to Cardno CEO Richard Wankmuller: "ATC is a lower margin business than the rest of Cardno’s US operations and does not operate in a service area that we are targeting for growth."
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