AECOM Technology acquires Tishman Construction

AECOM Technology Corp., a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that it has acquired Tishman Construction Corp., a leading provider of construction management services in the U.S. and the United Arab Emirates, in a $245 million deal. "The addition of Tishman to the AECOM enterprise reflects our commitment to execute on our stated strategy of growth and diversification," said AECOM president and CEO, John Dionisio. "We are expanding our portfolio of global expertise and enhancing our ability to meet the growing customer demand for turnkey solutions, including integrated design, engineering and construction services." This transaction allows AECOM to expand its mix of higher-margin construction management/program management business - a market estimated to be in excess of $100 billion globally by Engineering New-Record - without materially increasing its overall risk profile. "This is a unique opportunity that combines two best-in-class industry leaders to form a fully integrated global platform capable of delivering the full suite of services - from project concept to completion," Dionisio said. "AECOM is joining forces with a premier construction management services firm in Tishman, which is a true leader, and a powerful brand, in the industry." Tishman specializes in providing construction management services, but also provides program management and other construction-related services. It serves public- and private-sector clients in a variety of markets, including arts and culture, commercial, education, gaming, health care, hospitality, residential, retail, technology and transportation. This strategic addition to the AECOM enterprise results in an increased global presence and bolstered resources for integrated delivery of mega-projects. Tishman has 900 employees across the U.S. and in the United Arab Emirates and generated revenues of nearly US$1 billion in 2009. "Joining AECOM is the logical next step in the continued growth and success of Tishman, allowing us to expand our reach globally and seize new opportunities as part of the worldwide AECOM team," said Tishman chairman and CEO, Dan Tishman, who will continue to head Tishman's operations and joins AECOM's leadership team as a vice chairman and a member of its board of directors. "We have worked in partnership with AECOM for many years and now look forward to Tishman becoming the cornerstone of AECOM's construction management practice as well as offering our people the expanded professional development opportunities associated with being part of a global industry leader. We are excited about the tremendous possibilities on the horizon for our clients and our employees."