The $2.4 billion sale of AECOM's Management Services business to two private equity firms is expected to close in the first quarter of 2020, and the company’s Civil Construction business is also​ on the block, analyst Michael Corelli, vice president and senior credit officer for Moody's Investor Service, told Construction Dive. In December 2019, WSP confirmed their acquisition of environmental consulting firm Ecology and Environment a $65 million deal. But AECOM’s revenues were more than triple those of WSP last year, and AECOM has about 100,000 employees, nearly twice the size of WSP’s workforce. Yesterday, Seeking Alpha reported that the sale could indicate the two construction and engineering giants are still in discussions. Update: AECOM is cutting up to 500 jobs in the UK and Ireland. Click Image To Read More, Julie Jarvis is the Managing Director of recruitment specialist PRS. Los Angeles-based construction and engineering giant AECOM is in talks with Canadian firm WSP Global Inc. about a possible deal, Bloomberg reported Monday night. WSP Global Inc And AECOM Deal Moving Ahead. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. WSP Global shares fell 1.3% in Toronto, valuing it at about C$9.4 billion ($7 billion). There’s no guarantee that the overture will lead to a transaction, said the people, who asked to not be identified because the matter isn’t public. Press J to jump to the feed. These super mergers are just bad in general. Unauthorized distribution, transmission or republication strictly prohibited. Press J to jump to the feed. currently in Seattle, US. It was widely reported in early August that the multinational engineering firm was... An updated guide on sustainability, published by CIBSE, puts engineers at the heart of building better performing, sustainable buildings. Hasn’t sounded like that’s been the case in either of these firms previous acquisitions. The free newsletter covering the top industry headlines. Compare WSP to its competitors by revenue, employee growth and other metrics at Craft. Bloomberg News first reported in January that WSP had approached Aecom about a potential deal. On one hand its may make things better over the long term for my mid level firm since there is a growing backlash against the service these forms provide to the DOTs in the transportation industry. Representatives for Los Angeles-based Aecom and Montreal-based WSP didn’t immediately respond to requests for comment. We encountered an issue signing you up. That's even better for you. In January 2020, Bloomberg reported that LA-based AECOM had been approached by WSP regarding a deal, but no official comments have been released. Representatives for Los Angeles-based Aecom and Montreal-based WSP didn’t immediately respond to requests for comment. Neither company has yet made any comment about the potential takeover. In addition, a deal could help the two firms — which both operate across hundreds of local offices mainly concentrated in North America — save on costs, consolidate real estate, streamline procurement and system investments and help meet AECOM's "very aggressive" F2021 EBITDA guidance, said Wittmann, a senior research analyst with Baird Equity Research's Industrial Services division​. However that being said I found them to be alot more organised, with alot of procedure than my experiences with smaller firms. ProjectReady Releases 3.2 - Adding Submittals, Comprehensive Search & more to its growing li... Hilti unveils BIM-enabled construction robot for mobile ceiling work, Las Vegas construction market takes a hit from COVID-19, Black & Veatch leaving coal projects in the dust. 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WSP fell 0.4% to C$93.22 apiece in Toronto, giving the company a market value of about C$9.9 billion ($7.6 billion). Click Image To Read More, Rinnai is introducing the Nexus scale conditioner system, an independently tested and proven galvanic and electrolytic water treatment solution in a self-cleaning package. Meanwhile, WSP's acquisitions of U.S.-based construction and engineering firms go back several years. We apologize, but this video has failed to load. WSP bought Louis Berger and now in the they are in the process of acquiring AECOM too. Discover announcements from companies in your industry. The Leading News & Information Service For The Facilities, Workplace & Built Environment Community. Borges Leal 3529 - Caranazal - Santarém-PA The awards include: Graduate of the Year, Employer of the Year and... As the CEO steps down, AECOM is also cutting up to 500 jobs in the UK and Ireland. Plus a wealth of knowledge and experience within each team, which you'll find you work more closely with rather than independently . The $65 million deal included a special dividend of approximately $2.2 million, By signing up to receive our newsletter, you agree to our, •