LOS ANGELES — AECOM Technology Corp., a provider of professional technical and management support services for government and commercial clients around the world, has completed its acquisition of Davis Langdon, a global cost and project management consultancy firm, in Australia and New Zealand, Europe, the Middle East, and the United States.
Davis Langdon provides cost and project management services, and specialist consultancy services, to clients around the world. Davis Langdon’s 2,800 employees serve public- and private-sector clients in a variety of markets. Its counterpart in Asia, Davis Langdon & Seah, remains independent, but continues to work with AECOM’s Davis Langdon operations under an existing collaboration agreement.
“Davis Langdon’s strong cost and project management capabilities enhance our growing construction management services portfolio,” said John M. Dionisio, AECOM president and chief executive officer. “Combined with our recent acquisition of Tishman Construction, we have significantly bolstered AECOM’s ability to meet clients’ growing needs for turnkey, integrated services — and we have done so by adding two recognized, global industry leaders to the AECOM team.”
The acquisition of Davis Langdon’s South Africa operations is expected to be complete by the end of October 2010. The transactions, including Davis Langdon South Africa, are valued in the aggregate at approximately $324 million.
AECOM expects the transactions to be accretive to cash earnings per share (EPS) in fiscal year 2011. On a GAAP basis, the transactions are expected to be neutral to EPS in fiscal year 2011.
Davis Langdon has worked on many high-profile projects around the world, including the Tate Modern and the Eden Project in the United Kingdom; Estadio do Dragao in Portugal; New Doha International Airport; Grand Egyptian Museum in Cairo, Egypt; The Clem Jones Tunnel (CLEM7) in Brisbane, Australia; the Transbay Terminal in San Francisco; the Gautrain Rapid Rail Link in Johannesburg, and the Green Point Stadium — newly built for the 2010 FIFA World Cup — in Cape Town, South Africa.
Under the terms of the agreements, Davis Langdon will receive approximately 82 percent of the consideration in cash and 18 percent in AECOM common stock.