aecom construction services sale


combined-cycle, gas-fired West Riverside Energy Center, Future Enlit event unveiled at European Utility Week, AP: PG&E facing showdown with California Gov. “[This] announcement is a critical step in the advancement of our strategy to best position the business for success, to ensure that we continue building on our momentum toward our vision of establishing a new standard of excellence in the industry and to, in turn, create exceptional value for our stakeholders.”. California utility Pacific Gas and Electric (PG&E) filed for Chapter 11 bankruptcy on Jan. 29, as the company…, Emissions standards have changed a lot since the Shawnee Fossil Plant entered service during President Eisenhower’s second term…, The Trump administration has revived the discussion of using Yucca Mountain in Nevada as a repository for the…, LOS ANGELES (October 17, 2019) — AECOM, the world's premier infrastructure firm, announced today it will provide engineering,…, Sponsored by FORTRESS Information Security & Workiva. How to adapt universities and colleges to a changing climate, What to look for when considering modern methods of construction, Healthcare planning and emergency response: the case for choosing modular solutions, AECOM launches Mobilitics for Pandemic Response, its newest digital solution that helps transit agencies recover from the impacts of coronavirus, Future-Focused, Collaborative Design for Healthcare Facilities. based in California. Wachtell, Lipton, Rosen & Katz served as legal advisor to AECOM for the transaction. POWER Magazine readers get exclusive power industry news–every business day.

On behalf of our It is As part of that move, Lara Poloni, who took over as company president in June, has taken charge of the company’s entire design and consulting services business, which comprises much of AECOM’s $13.6 billion in revenue. on bankruptcy issues, Siemens overhauls turbine at 794-MW gas-fired plant in Hungary, Entergy tops regional segment in JD Power business satisfaction study. AECOM’s chief executive officer. Coal-Fired Power in 2021: A Recovery or a Reckoning? At AECOM, we believe infrastructure creates opportunity for everyone. “The sale of the Power construction business Defense Daily subscriber and registered users, please log in here to access the content. Earlier this year, Engineering News Record named AECOM as the No. Rudd succeeded the retiring Michael S. Burke.

“We have built significant momentum in our business and continue to advance efforts to align our organization around a global structure that fosters a culture of collaboration, better connects our expertise and focuses on our best growth opportunities.

company, I thank the Power construction team for their contributions over the We have a responsibility to protect, enhance and restore the world’s natural and social systems. The restructuring announcement also noted that Randy Wotring, AECOM’s chief operating officer, has retired effective immediately. The goal was to streamline AECOM into a professional services firm focused on design, planning, architecture, engineering, program management, and construction management. Among the power sector project builds led by AECOM in recent years include the combined-cycle, gas-fired West Riverside Energy Center (pictured) in Wisconsin, the Solar River site in Australia and nuclear decommissioning efforts in Japan, among others.
—Darrell Proctor is associate editor for POWER (@POWERmagazine). “The sale of the Power construction business marks another milestone in the successful execution of our transformation into a higher-margin, lower-risk Professional Services business,” said Troy Rudd, AECOM’s CEO, in an Oct. 16 news release. AECOM a year ago, when it announced the deal to jettison Management Services, said it wanted to de-risk the business and increase margins. This website uses cookies to improve your website experience and provide more personalized services to you. No financial terms were given on the value of the sale to CriticalPoint Capital. That includes the announcement in October 2019 that the company—under pressure from New York hedge fund investor Starboard Value after that group purchased a 4% stake in AECOM—had agreed to sell the Management Services business to affiliates of American Securities and Lindsay Goldberg. Equity, diversity and inclusion are core to our vision - a world where infrastructure creates opportunity for everyone. © 2020 Access Intelligence, LLC - All Rights Reserved. CriticalPoint Capital is headquartered in Manhattan Beach, California. “We have built significant momentum in our Not a subscriber or a registered user yet? “The sale of the Power construction business marks another milestone in the successful execution of our transformation into a higher-margin, lower-risk Professional Services business… How to adapt universities and colleges to a changing climate For AECOM’s national government clients, we continue to provide our premier suite of architecture, engineering and related infrastructure services. He can be reached at 918-831-9177 and [email protected]). Our technical experts and visionaries harness the power of technology to deliver transformative outcomes. Longtime power sector engineering, procurement and construction contractor AECOM is selling that part of its business to a private equity firm. years and wish the business and CriticalPoint Capital the best of success.”. See more PE stories on the power EPC sector. Executives Tout Storage as Key for Distributed Generation. He announced an operational restructuring of the company on Oct. 5. Visit amentum.com for more information. Big cities versus regional cities in the ‘with-COVID’ era, who wins. legal advisor to AECOM in connection with the transaction, and DBO Partners LLC We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market. AECOM’s board pushed back Burke’s exit due to the coronavirus pandemic; he eventually turned over his duties to Rudd on Aug. 15. construction unit to affiliates of CriticalPoint Capital LLC.

To find out more about the cookies we use, see our Website Privacy Policy. AECOM has announced the closing of the sale of its Power construction business to affiliates of CriticalPoint Capital LLC. served as its financial advisor. During his previous 11 years with AECOM, Rudd has guided a steady growth in the professional services business. Wachtell, Lipton, Rosen & Katz served as AECOM sells power construction business AECOM, a leading infrastructure consulting firm, announced the closing of the sale of its power construction division to affiliates of CriticalPoint Capital (CPC), LLC. From buildings and civil construction to energy and industrial solutions, AECOM Construction Services is built to modernize, expand and deliver the most iconic and complex structures ever conceived. We build a better world by opening doors, creating opportunity and protecting tomorrow. 1 environmental firm in its annual Top 200 ranking. We partner with our clients to deliver a better world. We’ve got you covered! business and continue to advance efforts to align our organization around a

PRESS RELEASESAECOM launches Mobilitics for Pandemic Response, its newest digital solution that helps transit agencies recover from the impacts of coronavirusBLOGFuture-Focused, Collaborative Design for Healthcare FacilitiesPODCASTBig cities versus regional cities in the ‘with-COVID’ era, who wins? AECOM at the time said it would use the money from the sale to reduce debt and repurchase stock. a private equity entity focused on acquiring corporate divestitures “in a state AECOM closed on the sale of its power The company appointed a new CEO, W. Troy Rudd, effective What to look for when considering modern methods of construction The company plans Commercial NuScale SMR in Sight as UAMPS Secures $1.4B for Plant, Harvesting Near-Ground Winds with Advanced Compact Turbines. global structure that fosters a culture of collaboration, better connects our Wotring came to AECOM from URS Corp., which AECOM acquired in 2014. DBO Partners LLC served as financial advisor. We value your privacy. Terms of the deal were not disclosed. What Will It Take to Make Offshore Wind Viable in the U.S.? In 2018, CriticalPoint acquired the U.S. power and industrial engineering services division of Altran. (Rod Walton is content director for Power Engineering, POWERGEN International and the online POWERGEN+ series continuing next week. The restructuring and share buyback are the latest moves AECOM has taken to boost shareholder value. AECOM’s professional services division yielded approximately $13.6 billion in fiscal year 2019 revenue. AECOM’s Civil Construction business is a single-source provider of lifecycle solutions including planning, design, procurement, construction, and operations and maintenance for the private sector and government agencies. Learn more.
Deal Overview On October 14, 2019, AECOM (NYSE: ACM, $39.50, Market Capitalization: $6.2 billion) announced the sale of its Management Services (MS) business for … AECOM announces sale of its Power construction business to CriticalPoint Capital.

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