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."
We provide you with the latest news on acquisitions in the Defense and Government markets. Make sure to subscribe to our weekly deal updates: