AECOM today formally announced it has acquired Indianapolis-based Hunt Construction Group, significantly adding to the engineering firm's construction services. Hunt Construction group has more than 700 employees in nine U.S. offices and generated revenues of $1.2B in '13 (AECOM). Terms of the deal were not disclosed. AECOM CEO Michael Burke yesterday said that talks between the two companies "started about a year ago" and they have "worked together on several projects in the past." The WALL STREET JOURNAL's Bob Tita reports the two firms have "been involved in the design or construction of more than two-thirds of the major-league level stadiums and arenas in the U.S." Hunt's "recent projects" include the construction of Marlins Park and Barclays Center. Burke said that Hunt is "bringing a backlog of work" to AECOM worth more than $4B, "almost all of it in the U.S." (WALL STREET JOURNAL, 7/29).
WHEELIN' & DEALIN': In Indianapolis, Jeff Swiatek notes the Hunt acquisition comes after AECOM earlier this month bought S.F.-based URS Corp. for $4B. Burke said that the addition of the two companies "will make AECOM one of the largest U.S. builders." Hunt Construction CEO Mike Fratianni and Chair Emeritus Robert Hunt will retain their positions (INDYSTAR.com, 7/29). Burke said the acquisitions of Hunt and URS happening so close is "more of a coincidence than anything." Burke: "We started talking to Hunt almost a year ago. We started working on the URS transaction almost six months ago. So it's more of a coincidence that the timing is within two weeks. But it does help us aggressively move to complete our strategy, and these two acquisitions entirely fit within that strategy to bring these fully integrated services together at this time" ("Squawk Box," CNBC, 7/29).
