550-employee engineering firm to expand AECOM energy practice, strengthen global portfolio of services
LOS ANGELES - AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that it has agreed to acquire RSW Inc., an international engineering firm based in Montreal, Quebec, Canada.
RSW is a 550-employee, leading service provider to clients in key end markets, including hydro power and transmission and distribution, which will bolster the company’s already strong portfolio of services, particularly in its global energy business.
“By welcoming RSW into the AECOM family, we are expanding the growth opportunities for both firms,” said John M. Dionisio, AECOM president and chief executive officer. “RSW’s 40-year track record of serving clients in the Canadian infrastructure market, as well as the work of its talented staff on complex projects in more than 50 countries around the globe, further strengthens AECOM’s ability to win the most complex and demanding projects in the world.”
RSW generated approximately US$45 million of gross revenue in the 12 months ended November 30, 2009. AECOM expects the transaction to be accretive to cash earnings per share (EPS) in fiscal year 2011. On a GAAP basis, the transaction is expected to be neutral to EPS in fiscal year 2011.
Georges P. Dick, RSW president and general director, echoed Dionisio’s sentiment. “We are excited about the possibilities that joining AECOM presents for our employees as well as our clients. We look forward to leveraging AECOM’s global platform to better serve our existing clients, connect with new ones and offer professional-development opportunities for our staff.”
The acquisition is subject to customary closing conditions, including shareholder approval and necessary regulatory approvals, and is expected to close in the fourth calendar quarter of 2010.