AECOM sells civil construction business
By Andy Brown06 January 2021
AECOM has announced the completion of its sale of its civil construction business to affiliates of Oroco Capital, am infrastructure investor.
This news means that, following on from the sale of the Power construction business in October, AECOM has now exited all of what it described as “self-perform, at-risk” construction businesses.
AECOM is one of the world’s largest engineering consultants with revenues of US$20.2 billion in 2019. The company is working on projects such as Heathrow terminal 2, the Melbourne metro tunnel in Australia and is the lead engineering firm on the Pegasus Link Constructors team to widen and reconstruct I-635 LBJ East Freeway in Dallas, US.
“The completion of the sale of the Civil construction business marks a significant milestone in the transformation of our business profile to best position AECOM for long-term success,” said Troy Rudd, AECOM’s chief executive officer.
“As global leaders in the infrastructure, environment and water markets, we are poised to capitalise on our clients’ increasing demand for our consulting services to transform cities, achieve bold ESG ambitions and better the communities we serve.”
AECOM also announced that it has executed nearly US$150 million of share repurchases since its fourth quarter fiscal 2020 earnings announcement on November 16, 2020. Since September 2020, the Company has executed more than US$600 million of share repurchases.