AECOM to acquire Shimmick Construction for $175 million

AECOM has reached an agreement to acquire Shimmick Construction for $175 million.

The acquisition, which is subject to customary closing conditions, is slated to close in AECOM's fourth fiscal quarter. The deal will provide AECOM with "leading civil construction capabilities" across the Western United States, AECOM officials said in a press release.

In addition, the acquisition will better position the firm to capture a greater share of the market spend, company officials added.

"Shimmick's civil infrastructure expertise provides an immediate complement to our leading North American design practice," said Michael Burke, AECOM's chairman and chief executive officer. "As momentum across our Americas infrastructure markets builds, enhancing our construction capabilities is a critical next step to ensure we best capitalize on the tremendous opportunities in front of us."

Shimmick has about 1,000 employees and a project backlog worth $1.35 billion. The firm's portfolio of projects includes the Honolulu Authority for Rapid Transportation's airport guideway and stations.