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Harris Williams Advises Atlas Technical Consultants on its Sale to Boxwood Merger Corp.

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Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Atlas Intermediate Holdings LLC (Atlas), a portfolio company of Bernhard Capital Partners (Bernhard Capital) that provides services under the name Atlas Technical Consultants, on its sale to Boxwood Merger Corp. (Boxwood). Boxwood is a publicly-traded special purpose acquisition company. The combined company has changed its name to "Atlas Technical Consultants, Inc." As of February 18, 2020, the company's shares of Class A common stock began trading on Nasdaq under the new ticker symbol "ATCX."

Atlas provides mission-critical technical services that help its public and private sector clients test, inspect, certify, plan, design and manage a wide variety of projects across the transportation, commercial, industrial, government, education and other nonresidential markets. The transaction was first announced in August 2019 and was led by Drew Spitzer, Matt White, Ian Thomas, Greg Waller and Trevor Casey of the Harris Williams Energy, Power & Infrastructure (EPI) Group.

Since its inception, Atlas has strategically expanded its footprint and capabilities through acquisitions of premier national and large regional technical service companies to create a leading platform. This includes, among others, the acquisitions of the following: PaveTex Engineering, Moreland Altobelli Associates, Engineering Testing Services and ATC Group Services. Atlas' highly-technical infrastructure services are delivered through a nationwide footprint, as its approximately 3,200 employees operate from over 100 offices located across 40 states. The company is headquartered in Austin, Texas.

Bernhard Capital is a services-focused private equity management firm established in 2013 by Jim Bernhard, Jeff Jenkins and a team of experienced private equity professionals. Bernhard Capital seeks to create sustainable value by leveraging its founding partners' experience in acquiring, operating and growing services businesses. From strategic industry insight to operational efficiencies and best-practice management, Bernhard Capital looks to provide resources far beyond its investments.

Boxwood is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Boxwood's business strategy is to target, identify and complete an initial business combination with a company that provides technical and industrial services across a broad range of industries to leverage the experience of Boxwood's management team. Boxwood raised $200 million in its initial public offering and began trading on Nasdaq in November 2018. Its shares of Class A common stock, units and warrants trade under the ticker symbols "BWMC," "BMWCU" and "BWMCW," respectively.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC).

The Harris Williams EPI Group has experience across a broad range of sectors, including industrial and infrastructure services; oil and gas equipment and services; energy efficiency and clean tech; power products and technology; engineering and construction; and environmental services. For more information on the firm's energy, power, and infrastructure experience, please visit the EPI Group's section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

For media inquiries, please contact Katie Langemeier, associate brand manager, at +1 (804) 648-0072.

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