AECOM has entered into a definitive agreement to sell its civil construction business, including the Shimmick Construction unit, to Oroco Capital.
AECOM said Thursday it expects to complete the sale in January upon the satisfaction of customary closing conditions.
“Our outlook is bright as we bring together our company under our Think and Act Globally strategy, which includes transforming how we operate through the digital delivery of our work and focusing on growing our Professional Services businesses,“ said Troy Rudd, AECOM CEO.
The deal comes after AECOM sold its power construction business to CriticalPoint Capital as part of a business transformation strategy to focus on professional service offerings.
Wachtell, Lipton, Rosen & Katz served as the Los Angeles-based infrastructure consulting firm's legal adviser on the transaction while DBO Partners acted as its financial adviser.
The civil construction unit supports public and private clients in heavy civil, mass transit, mining, water, highway and bridge infrastructure projects.