AECOM to sell management services business for $2.4B

AECOM said this week it has agreed to sell its management services business for $2.4 billion to affiliates of private-equity firms American Securities and Lindsay Goldberg.

In its announcement, American Securities and Lindsay Goldberg said the Germantown, MD-based management services unit, which is a contractor to the Pentagon, the Energy Department and other agencies, has more than 25,000 employees.

They said the deal will create a standalone government services provider.

AECOM said the transaction will make its remaining business a "lower-risk, higher-returning professional services firm focused on its industry-leading design, planning, architecture, engineering, program management and construction management capabilities."

AECOM said John Vollmer, who heads the group, will continue to lead it. The deal is expected to close in the first quarter of 2020.