AECOM acquires Tishman Construction Corp.

AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced July 14 that it has acquired Tishman Construction Corp., a leading provider of construction management services in the United States and the United Arab Emirates, in a $245 million transaction.

“The addition of Tishman to the AECOM enterprise reflects our commitment to execute on our stated strategy of growth and diversification,” said AECOM President and CEO John M. Dionisio. “We are expanding our portfolio of global expertise and enhancing our ability to meet the growing customer demand for turnkey solutions, including integrated design, engineering and construction services.”

This transaction allows AECOM to expand its mix of higher-margin construction management/program management business – a market estimated to be in excess of $100 billion globally by Engineering News-Record – without materially increasing its overall risk profile.
Tishman specializes in providing construction management services, but also provides program management and other construction-related services. It serves public- and private-sector clients in a variety of markets, including arts and culture, commercial, education, gaming, health care, hospitality, residential, retail, technology and transportation. This strategic addition to the AECOM enterprise results in an increased global presence and bolstered resources for integrated delivery of mega-projects. Tishman has 900 employees across the United States and in the United Arab Emirates and generated revenues of nearly $1 billion in 2009.

“Joining AECOM is the logical next step in the continued growth and success of Tishman, allowing us to expand our reach globally and seize new opportunities as part of the worldwide AECOM team,” said Tishman Chairman and CEO Dan Tishman, who will continue to head Tishman’s operations and joins AECOM’s leadership team as a vice chairman and a member of its board of directors.

Tishman is currently engaged in a number of noteworthy projects, including 1 World Trade Center, which, on completion, at 1,776 feet will be New York City’s tallest building; World Trade Center Tower 4 and the PATH Terminal Hub at the World Trade Center.