AECOM Divests Management Services Business
AECOM, the world’s premier infrastructure firm, announced on Feb. 3 that it has successfully closed the sale of its Management Services business to affiliates of American Securities LLC and Lindsay Goldberg LLC for a purchase price of $2.405 billion, subject to customary cash, debt and working capital adjustments. Included in the purchase price is contingent purchase price of approximately $150 million.
The completed sale, at a premium to AECOM’s valuation, accelerates AECOM’s value creation strategy and advances its ongoing transformation and focus on its higher-returning and lower-risk Professional Services business.
“We are pleased to complete this value-enhancing transaction, which further hones our focus on our Professional Services business and we expect will enable us to accelerate debt reduction and share repurchases,” said Michael S. Burke, AECOM’s chairman and chief executive officer. “On behalf of our company, I thank the Management Services business and its talented employees for their tremendous contributions, and I am confident in their ongoing success under the stewardship of Lindsay Goldberg and American Securities.”
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