August 16, 2010
A chief executive officer post is among the job opportunities available in this week's classifieds!
AECOM Technology to Acquire Davis Langdon
AECOM Technology Corporation has agreed to acquire Davis Langdon, a global cost and project management consultancy firm, in a $324 million transaction. Davis Langdon’s 2,800 employees serve clients around the world, with a strong presence in Africa, Australia and New Zealand, Europe, the Middle East, and the U.S.
David Langdon’s counterpart in Asia, Davis Langdon & Seah, will remain independent, but will continue to work with AECOM’s Davis Langdon operations under an existing collaboration agreement.
John M. Dionisio, AECOM president and chief executive officer, said of the acquisition: “Davis Langdon’s strong cost and project management capabilities bolster our growing portfolio of construction management services. Combined with our recent acquisition of Tishman Construction, we have significantly enhanced AECOM’s ability to meet the growing customer demand for turnkey, integrated services—and we have done so by adding two recognized global leaders in the industry to the AECOM enterprise.”
Davis Langdon has worked on high-profile projects around the world, including San Francisco’s Transbay Terminal, the Gautrain Rapid Rail Link in Johannesburg, and Abu Dhabi International Airport.
“We are delighted to be joining AECOM,” said Rob Smith, chairman of Davis Langdon’s international board of directors and senior partner of its Europe and Middle East region. “Now, more than ever before, our clients are looking for integrated solutions and access to global knowledge. In partnership with AECOM, Davis Langdon will be well-positioned to deliver our frontend cost and project management, and consultancy services as part of a complete end-to-end offer.”
Under the terms of the agreement, Davis Langdon is expected to receive approximately 80 percent of the consideration in cash and 20 percent in AECOM common stock. The transaction is expected to close in October of 2010.