AECOM Technology Corporation completed its acquisition of Earth Tech, Inc., a business unit of Tyco International Ltd. AECOM provides professional technical and management support services for government and commercial clients worldwide. Earth Tech provides consulting; engineering; and design, build, and operate services to waste, wastewater, environmental, transportation, and facilities clients globally.
With the acquisition of Earth Tech, AECOM increases its global presence, particularly in the Americas, Europe, Australia, and Asia. AECOM also said the acquisition significantly strengthens its water and wastewater business, while augmenting its position in the environmental, facilities, and transportation sectors.
"We are delighted to welcome Earth Tech into the AECOM family," said John M. Dionisio, AECOM president and CEO. "This transaction, which expands our workforce to more than 40,000 professionals around the world, enhances our ability to take advantage of the growing business opportunities that exist in our global end markets. We expect this transaction to benefit our clients, employees, and shareholders."
AECOM said it also divested certain Earth Tech businesses that do not align with its strategic plans and core businesses, including Earth Tech’s Water & Power Technologies (WPT) and North American Contract Operations (NACO) businesses and its Mexican operations. The value of the divested WPT, NACO, and Mexico assets, along with the value of certain assets that have been carved out of the sale transaction with Tyco, represent a total of $175 million of the original $510 million transaction value. Additionally, approximately $50 million to $60 million of assets will be held for sale by AECOM until sale documentation is finalized, all required consents are received, and the transactions can be closed.