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  • Friday, November 22, 2024

Private Equity Firms Close $2.4B Purchase of AECOM’s Management Services Arm; Michael Burke Quoted

Jeff Brody
Michael Burke

Affiliates of private equity firms Lindsay Goldberg and American Securities have completed the acquisition of AECOM’s (NYSE: ACM) management services business for $2.4B.

“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,” Michael Burke, chairman and CEO of AECOM, said in a statement published Monday.

The transaction includes a contingent purchase price of approximately $150M and further advances AECOM’s value creation strategy.

AECOM announced the sale in October 2019.  The company’s Germantown, Md.-based management services business has over 25K employees and provides systems engineering, facility and program management, training, consulting, technical support, information technology, logistics, systems integration and environmental management support to U.S. federal agencies and allied governments.

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