“This acquisition strengthens our position in a strategically important, high-growth market. In addition, BKS is well situated to help us further penetrate the growing commercial and industrial sectors and better service our multinational clients as they continue to expand into this region,” said AECOM Chairman and Chief Executive Officer John M. Dionisio. “BKS’s breadth of services increases our existing in-region capabilities, and we look forward to welcoming these new employees to AECOM.”
With approximately 900 employees, BKS is a multidisciplinary consulting engineering and management firm with headquarters in South Africa and operations across Africa. Established in 1965, the company provides engineering and consulting services for public- and private-sector clients in the areas of buildings, stadia, transportation, water and sanitation, mining and energy.
“AECOM’s vision for a more sustainable future supports our goals to offer customized solutions for sustainable development,” said BKS Chief Executive Officer Danai Magugumela. “With similar values and objectives, we look forward to being able to provide our clients with continued excellence and enhanced services while offering greater access to career-development opportunities for our employees.”
As a result of the transaction, AECOM will own 80% of BKS, while the existing investor in BKS will hold a 20% interest. The parties expect that BKS will continue to hold a level 2 contributor status in terms of South Africa’s Broad Based Black Economic Empowerment codes.
The transaction is subject to customary closing conditions, including the approval of the Competition Commission of South Africa, and is expected to close during the fourth calendar quarter of 2012.
AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that create, enhance and sustain the world’s built, natural and social environments. A Fortune 500 company, AECOM serves clients in more than 130 countries and had revenue of $8.3 billion during the 12 months ended June 30, 2012. More information on AECOM and its services can be found at aecom.com.
Forward-Looking Statements: All statements in this press release other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any projections of earnings, statements of plans for future operations or expected revenue. Actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements are set forth in our annual report on Form 10-Q for the fiscal quarter ended June 30, 2012, and our other reports filed with the U.S. Securities and Exchange Commission. AECOM does not intend, and undertakes no obligation, to update any forward-looking statement.
Source: AECOM Technology Corporation
Lynn Antipas Tyson
SVP, Investor Relations
SVP & Chief Communications Officer