AECOM Agrees To Sell Civil Construction Business To Oroco Capital - Quick Facts

(RTTNews) - AECOM Inc. (ACM), an infrastructure consulting firm, said Thursday it has agreed to sell its Civil construction business, which includes the Shimmick Construction business, to affiliates of Oroco Capital.

Financial terms of the deal were not disclosed. The transaction is expected to close in January 2021.

"Today's announcement of the sale of our Civil construction business, together with the sale of our Power construction business in October, represents a significant milestone in advancing our strategy and focusing our efforts on our higher-margin and lower-risk Professional Services businesses," said Troy Rudd, AECOM's chief executive officer.

AECOM's Professional Services business generated revenue of $13.2 billion in fiscal year 2020.