AECOM acquires Hunt Construction Group to join its construction services business
Construction management firm significantly expands AECOM’s presence in the U.S. construction services market.
LOS ANGELES--(BUSINESS WIRE)--AECOM Technology Corporation (NYSE:ACM), the world’s #1-ranked engineering design firm, announced today that it has acquired Hunt Construction Group, significantly adding to AECOM’s construction services business.
“Becoming part of AECOM provides expanded growth opportunities for our business and our people, as we are now better positioned to continue working on the largest and most challenging projects”
Hunt Construction Group, which serves clients in both the public and private sectors, is one of the country’s leading commercial construction management firms. It was established in 1944, has more than 700 employees in nine U.S. offices and generated revenues of US$1.2 billion in 2013.
“The addition of Hunt’s people and resources immediately makes AECOM one of the largest U.S. builders,” said Michael S. Burke, AECOM president and chief executive officer. “This important expansion of our build expertise reflects the continued advancement of our strategy to create an integrated delivery platform with superior capabilities to design, build, finance and operate infrastructure assets globally.”
On July 13, AECOM announced a definitive agreement to acquire URS Corporation, a transaction that is expected to close in October 2014. The transaction is subject to customary closing conditions, including regulatory approvals and approval by AECOM and URS stockholders. The combined company, including Hunt, would be a leading, fully integrated infrastructure and federal services provider with more than 95,000 employees in 150 countries. It would have calendar year 2013 pro forma revenues of more than US$20 billion.
“Hunt presents a compelling strategic fit for our business — combining its expertise in the sports, health care and aviation markets with our construction services team’s recognized strength in the commercial tall buildings, residential and hospitality sectors,” added Daniel P. McQuade, AECOM chief executive, construction services. “We welcome Hunt’s employees to AECOM and look forward to the continued growth of our construction services practice.”
“Becoming part of AECOM provides expanded growth opportunities for our business and our people, as we are now better positioned to continue working on the largest and most challenging projects,” said Hunt Construction Group Chief Executive Mike Fratianni, who will retain his position with the operation, as will current Chairman Emeritus Robert Hunt.
Recent Hunt Construction Group projects include Marlins Park in Miami, home of Major League Baseball’s Miami Marlins; and the Maynard H. Jackson Jr. International Terminal at Hartsfield-Jackson Atlanta International Airport. Hunt also managed the construction of facilities at which AECOM provided design services, such as the Barclays Center in Brooklyn, N.Y., and the Proton Therapy Clinic at the Mayo Clinic in Phoenix.
Ranked as the #1 engineering design firm by revenue in Engineering News-Record magazine’s annual industry rankings, AECOM is a premier, fully integrated infrastructure and support services firm, with a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees — including architects, engineers, designers, planners, scientists and management and construction services professionals — serving clients in more than 150 countries around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation and technical excellence in delivering solutions that create, enhance and sustain the world's built, natural and social environments. A Fortune 500 company, AECOM had revenue of $8.0 billion during the 12 months ended March 31, 2014. More information on AECOM and its services can be found at www.aecom.com.
About Hunt Construction Group
In its 70-year history, Hunt has been known as one of the nation’s leading construction services firms consistently ranking among the top contractors by Engineering News-Record. Growth and innovation are the cornerstones of Hunt’s team, and it prides itself on being among the best in construction management, design-build, integrated project delivery, general contracting and preconstruction services. For more information on Hunt, visit www.huntconstructiongroup.com.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue, the expected timetable for completing the proposed transaction with URS Corporation and the combined companies’ plans, objectives, expectations and intentions. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2014, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
In connection with the proposed transaction with URS Corporation, AECOM intends to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of AECOM and URS that also constitutes a prospectus of AECOM. Investors and security holders are urged to read the joint proxy statement/prospectus and other relevant documents filed with the SEC, when they become available, because they will contain important information about the proposed transaction. Additionally, information about the transaction is available online at www.aecom-urs.com.
This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.