Boxwood Merger, Atlas Technical Consultants Complete Business Combination

Boxwood Merger Corp. (Nasdaq: BWMC, BWMCU and BWMCW), a publicly traded special purpose acquisition company, and Atlas Intermediate Holdings LLC, a provider of professional testing services under the name Atlas Technical Consultants, have completed their previously announced business combination, pursuant to which Boxwood acquired Atlas for approximately USD 617 million in total consideration, the company said.

The business combination was approved by Boxwood´s stockholders on February 10, 2020.

The combined company is well-positioned to benefit from favorable tailwinds, including the growing need to inspect, service, repair and invest in US infrastructure.

Upon the completion of the business combination, the company changed its name to Atlas Technical Consultants, Inc. (NASDAQ: ATCX).

Greenhill & Co. and Macquarie Capital acted as financial advisors to Boxwood and BofA Merrill Lynch, Stifel, Morgan Stanley, Macquarie Capital and Helena Capital Advisors acted as capital markets advisors to Boxwood. Boxwood secured debt financing for the transaction from Macquarie Capital and Natixis. Winston & Strawn LLP acted as legal advisor to Boxwood and Kirkland & Ellis LLP acted as legal advisor to Atlas. Harris Williams and Houlihan Lokey acted as financial advisor to Atlas.