AECOM has sold its Power construction business to affiliates of CriticalPoint Capital, AECOM reported on Friday. The sale will add to AECOM’s business transformation strategy to become a higher-margin, lower-risk Professional Services business.
Founded in 2012, CriticalPoint Capital is an operationally-focused private equity firm that specializes in corporate divestitures, companies in a state of transition and special situations across North America. The company focuses on acquiring companies with long-term value creation opportunities.
With the acquisition of AECOM’s Power construction business, CriticalPoint Capital will add new management teams that can drive operational change and provide a thoughtful approach to growth. AECOM has worked to align the company around a global structure to advance collaboration and foster new growth opportunities.
“On behalf of our company, I thank the Power construction team for their contributions over the years and wish the business and CriticalPoint Capital the best of success,” said Troy Rudd, AECOM’s chief executive officer.
AECOM recently announced that the company has integrated its Design and Consulting Services (DCS) businesses into one global organization as part of the company’s phased strategy. The new unit will be led by Lara Poloni, AECOM’s president.
The merger will simplify the operating structure of the company and will enable greater connectivity and collaboration across the enterprise. In the expanded role, Poloni will gain new responsibilities to help simplify its operating structure.
“Through one global organization, we will drive even greater innovation and ensure we deliver for our clients by bringing the full strength of our expertise to bear on our projects,” Poloni said in regards to the recent merger.
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management.
We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately $13.6 billion in fiscal year 2019.