Construction News
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Aecom sells civil construction unit to Oroco Capital

05-01-2021

Aecom, the world’s premier infrastructure consulting firm, has announced the sale of its civil construction business, which includes the Shimmick Construction business, to affiliates of Oroco Capital. 
 
The deal follows Aecom’s sale of its power construction business in October 2020. Aecom said that it has now exited substantially all of its self-perform, at-risk construction businesses.
 
California-based Shimmick has approximately 2,700 employees and a broad portfolio of infrastructure projects, including serving as lead JV partner for the design and construction of the cable-stayed Gerald Desmond Bridge in Long Beach.
 
Aecom said this sale together with that of its power construction business in October, represents a significant milestone in advancing its strategy and focusing efforts on higher-margin and lower-risk professional services businesses, said its top official.
 
"Our outlook is bright as we bring together our company under our Think and Act Globally strategy, which includes transforming how we operate through the digital delivery of our work and focusing on growing our Professional Services businesses," remarked CEO Troy Rudd.
 
Wachtell, Lipton, Rosen and Katz served as legal advisor to Aecom in connection with the transaction, and DBO Partners served as its financial advisor.-TradeArabia News Service



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