Atlas Awarded Project Management Contract for BREC in Louisiana

Rhea-AI Summary

Atlas Technical Consultants (Nasdaq: ATCX) announced a new contract with the East Baton Rouge Parish Recreation and Parks Commission, valued at $6 million over three years, for managing capital improvement projects totaling approximately $100 million. The firm will provide program management services, including budget development and environmental oversight, enhancing community park facilities. CEO L. Joe Boyer emphasized the importance of parks in local communities and expressed gratitude for the opportunity to contribute.

Positive

• Secured a $6 million contract with potential total project value of $100 million.
• The project enhances community infrastructure and strengthens Atlas's presence in Louisiana.

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• None.

AUSTIN, Texas, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading Infrastructure and Environmental solutions provider, announced that it has been awarded a program management services contract by the East Baton Rouge Parish Recreation and Parks Commission (BREC), the agency that manages parks and recreational facilities in East Baton Rouge Parish, Louisiana, to provide project management services on capital improvement projects with a total construction value of roughly $100 million. Atlas’ portion of the contract has an initial value of approximately $6 million with a three-year term and the option for two, two-year extensions.

Under the contract, Atlas’ professional and technical staff will support BREC staff with professional program management services during all phases of select capital improvement projects. Atlas will provide comprehensive project management services including program implementation strategies, schedule and budget development, program monitoring and control, contractor and environmental oversight, and public involvement and outreach for various capital improvement projects on new and existing facilities in the region.

“We are excited to build on our longstanding presence in Louisiana and are grateful that BREC has entrusted us to help deliver this essential community-based program. The importance of parks and recreation facilities in our communities cannot be overstated,” said L. Joe Boyer, CEO of Atlas. “We look forward to applying Atlas’ wide breadth of program management capabilities and experience in providing comprehensive support on large-scale capital improvement programs to enhance BREC’s unique system of parks.”

About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of Infrastructure and Environmental Solutions. We partner with our clients to improve performance and extend the lifecycle of built and natural infrastructure assets stressed by climate, health, and economic impacts. With 3,500+ employees nationwide, Atlas brings deep technical expertise to public- and private-sector clients, integrating services across four primary disciplines: Environmental (ENV); Testing, Inspection and Certification (TIC); Engineering & Design (E&D); and Program Management/Construction Management, and Quality Management (PCQM). To learn more about Atlas innovations for transportation, commercial, water, government, education, and industrial markets, visit https://www.oneatlas.com.

Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this press release in relation to Atlas has been provided by Atlas and its management team, and forward-looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us and are based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto; (2) the risk that our actual results may differ from the guidance we have provided; (3) the ability to recognize the anticipated benefits of our past acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (4) changes adversely affecting the business in which we are engaged; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.

Contacts:

Media
Karlene Barron
770-314-5270
karlene.barron@oneatlas.com

Investor Relations
Chase Jacobson, Vallum Advisors
512-851-1507
ir@oneatlas.com

FAQ

What is the value of the contract awarded to Atlas Technical Consultants by BREC?

The contract is valued at approximately $6 million with a total construction value of roughly $100 million.

What services will Atlas provide under the contract with BREC?

Atlas will offer program management services, including budget development, program monitoring, and contractor oversight.

How long is the contract term for the Atlas project with BREC?

The initial contract term is three years, with options for two additional two-year extensions.

What does the new contract signify for Atlas Technical Consultants in Louisiana?

It reinforces Atlas's longstanding presence and commitment to community-based infrastructure projects in Louisiana.