AECOM announces sale of its Power construction business to CriticalPoint Capital
AECOM (NYSE:ACM) has successfully closed the sale of its Power construction business to CriticalPoint Capital, enhancing its strategy to focus on higher-margin, lower-risk Professional Services. CEO Troy Rudd emphasized the significance of this transition, aiming for better organizational alignment and growth opportunities. The transaction was supported by legal advisor Wachtell, Lipton, Rosen & Katz and financial advisor DBO Partners LLC. AECOM continues to thrive as a premier infrastructure consulting firm, with a revenue of approximately $13.6 billion in fiscal year 2019, serving both public and private sectors.
- Successful sale of Power construction business to CriticalPoint Capital, aligning with strategic goals.
- Focus on higher-margin, lower-risk Professional Services, indicating potential for improved profitability.
- None.
LOS ANGELES--(BUSINESS WIRE)--AECOM (NYSE:ACM), the world’s premier infrastructure consulting firm, today announced the closing of the sale of its Power construction business to affiliates of CriticalPoint Capital, LLC.
“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 chief executive officer. “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. On behalf of our company, I thank the Power construction team for their contributions over the years and wish the business and CriticalPoint Capital the best of success.”
Advisors
Wachtell, Lipton, Rosen & Katz served as legal advisor to AECOM in connection with the transaction, and DBO Partners LLC served as its financial advisor.
About AECOM
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately
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