Aecom is acquiring Shimmick Construction for $175M

Aecom wants to capitalize on California’s increased infrastructure budget

Jul.July 10, 2017 02:00 PM
Michael Burke, Inglewood stadium construction site (Aecom/Google Maps)

With billions of dollars in transit developments approved across the state, Aecom is looking to claim a larger share of California’s infrastructure projects.

The Century City engineering and construction giant, whose projects includes the new NFL stadium in Inglewood, announced it would acquire Oakland-based construction firm Shimmick Construction in a $175 million deal that’s expected to close in September.

Michael Burke, Aecom’s CEO, said the deal would enhance its construction capabilities as California and the country invest more in infrastructure improvements, the Los Angeles Times reported.

The company said California’s infrastructure market is expected to see nearly double-digit growth in each of the next four years. President Trump has also called for $1 trillion in infrastructure spending, though his administration has not yet put forth a concrete proposal.

Shimmick’s projects include the Metro Orange Line, the replacement of the Gerald Desmond Bridge in Long Beach and repair work on the Golden Gate Bridge.

Aecom’s revenue was last year was $17.4 billion. It operates in more than 150 countries and its projects include New York’s One World Trade Center and high rises in Abu Dhabi, United Arab Emirates. [LAT]Subrina Hudson

Related Articles

Construction is still on at the LA County art museum

Los Angeles construction projects continue amid CA confusion

Construction in Los Angeles (Credit: Sam Lafoca/Construction Photography/Avalon/Getty Images)

Construction work hasn’t stopped in LA

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border