Aecom buys Davis Langdon for £204m

INTERNATIONAL – CONSTRUCTION TAKEOVER

Aecom buys Davis Langdon for £204m

Takeover after months of negotiations ends the independence of one of UK industry’s biggest names

Aecom has announced the takeover of Davis Langdon in a deal worth $324M (£203.6m), ending the independence of one of the most established names in the UK construction sector.

The deal, which Building first revealed in February, comes after months of negotiation between the two parties.

Under the terms of the agreement, Davis Langdon is expected to receive approximately 80% of the consideration in cash and 20% in AECOM common stock. The deal, which has been approved by Davis Langdon shareholders and partners, is expected to complete in October.

Rob Smith, senior partner in Davis Langdon’s Europe and Middle East region, said: “Now, more than ever before, our clients are looking for integrated solutions and access to global knowledge. We look forward to further penetrating the markets we share with AECOM and leveraging their global platform to enter new growth markets.”

Aecom president and chief executive officer John M Dioniso said: “The addition of Davis Langdon to AECOM reflects our continued commitment to execute on ourstated strategy of growth and diversification, especially from a global footprint standpoint.”

The deal follows Aecom’s purchase last month of US firm Tishman, the builder of the original World Trade Cenre towers, and a string of acquisitions from the firm in the UK.

AECOM Technology Corporation is a professional technical and management support services firm, head quartered in Los Angeles, USA. The company is ranked as the number one design firm for 2010 by Engineering News-Record and number one by Architectural Recordand number one by Architectural Record. It provides services in the areas of transportation, facilities, environmental, energy, water and government. With more than 45,000 employees, AECOM is listed at #352 on the Fortune 500 list. The name AECOM is an acronym for Architecture, Engineering, Consulting, Operations and Management. http://www.aecom.com/

Davis Langdon, known globally as Davis Langdon and Seah International, is a construction consultancy firm headquartered in London, UK with 30 offices throughout the UK, Europe and the Middle East, and over 100 worldwide. It has 2,239 employees in Europe and the Middle East and over 5,000 employees in more than 100 offices working in 35 countries worldwide.

 http://www.davislangdon.com/Global/

Back in 1988 I was a young quantity surveyor learning my trade with Davis Belfield & Everest, who merged with Langdon Every & Seah to become Davis Langdon & Everest locally and Davis Langdon & Seah International globally, and were reputed at that time to be the largest quantity surveying firm in the World following the merger – ED