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AECOM

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For the medical college, see Albert Einstein College of Medicine.
Not to be confused with Aecon.
AECOM
Company typePublic
IndustryProfessional services
Founded1990
Headquarters
Los Angeles, California
Area served
Worldwide
Key people
Michael S. Burke
(Chairman & CEO)
Services
RevenueIncrease US$18 billion (2017)[1]
Increase US$652 million (2017)[1]
Increase US$339 million (2017)[1]
Total assetsIncrease US$14.397 billion (2017)[1]
Total equityIncrease US$3.996 billion (2017)[1]
Number of employees
~87,000 (2017)[1]
Websitewww.aecom.com
AECOM office building

AECOM (/eɪ.iːˈkɒm/ ay-ee-KOM) (formerly known as AECOM Technology Corporation) is an American multinational engineering firm that provides design, consulting, construction, and management services to a wide range of clients.

AECOM has approximately 87,000 employees, and is number 161 on the 2017 Fortune 500 list.[2][3] This is down from 87,500 employees and number 156 on the 2016 list.[4] Fortune named AECOM as one of 2015 World's Most Admired Companies,[5] and again in 2016 & 2017.[6] Engineering News-Record ranked AECOM as Number 1 Global Design Firm.[7]

The company's official name from 1990 to early January 2015 was AECOM Technology Corporation. Today, it is known simply as AECOM.[8] The company is listed on the New York Stock Exchange (NYSE) under the ticker symbol ACM[9] and on the Frankfurt Stock Exchange under the ticker symbol E6Z.[10]

History

Operating through more than a dozen subsidiaries, AECOM traces its origins to Kentucky-based Ashland Oil & Refining Company, which in turn grew out of Swiss Drilling Company, founded in Oklahoma in 1910 by J. Fred Miles. He gained control of some 200,000 acres and formed Swiss Oil Company in Lexington. In 1924 Miles launched a refining operation called Ashland Refining Company, headed by Paul Blazer. While the parent company struggled, leading to the ouster of Miles, Ashland prospered under Blazer's leadership, and in 1936 he was named chief executive officer of the reorganized company, Ashland Oil & Refining Company. In 1966 Ashland acquired Warren Brothers and became involved in highway construction and construction materials. The company was able to take advantage of refinery byproducts to produce asphalt. Ashland grew into one of the nation's major road-construction firms, and laid a foundation for AECOM. Through a series of acquisitions and technological developments prior to the buyout, Ashland grew to include chemical, petrochemical, highway construction, and construction materials firms within its realm, laying the groundwork for the management buyout of Ashland Technology in 1985.[11]

In the 1970s Ashland Oil & Refining became Ashland Oil, Inc. Five years later the company consolidated its construction assets into a construction division and also formed a coal subsidiary, indicative of a changing focus at Ashland. Although it generated more than $1 billion a year in sales, Ashland was a small player in the oil industry at a time when the cost of exploration was prohibitively expensive. By 1980 Ashland sold its production assets, and a year later was reorganized as a modified holding company. A new corporate strategy was implemented as Ashland now focused on refining and marketing, and sought to grow its non-refining businesses. In 1984 Ashland acquired Daniel, Mann, Johnson & Mendenhall (DMJM), a global provider of transportation-related engineering services. Originally focused on military projects, after World War II it had become one of the first integrated engineering and architectural firms in the western United States. The acquisition of DMJM also included its president, Richard G. Newman, AECOM's future chief executive and chairman. In 1985 DMJM became part of a new subsidiary, Ashland Technology Corporation. Two years later Newman was named its new president.[12]

When Ashland chose to return to its core petroleum refining business in the late 1980s, Newman recommended an employee buyback proposal, resulting in the spin-off of Ashland Technology and the creation of AECOM (Architecture, Engineering, Consulting, Operations, and Maintenance) in 1990. The company went on to acquire a number of engineering, design and planning firms including engineering company Maunsell, urbanism and sustainability practice EDAW, Economic Research Associates (ERA), environmental management firm ENSR and The RETEC Group Inc., architects Ellerbe Becket[13] and Davis Langdon, the quantity surveyors and construction consultants.[14]

AECOM acquired Metcalf and Eddy, a water and wastewater engineering firm based in Massachusetts, in 2000.[15]

AECOM went public during May 2007 with an initial public offering on the NYSE, netting $468.3 million.[16] On January 8, 2008 AECOM acquired The Services Group, Inc., a provider of consulting services to the US Agency for International Development and other multi-lateral donor organizations. On July 28, 2008, AECOM completed its purchase of Earth Tech Inc., a consulting and engineering firm, from Tyco International for $510 million.[17][18] On July 14, 2010, AECOM announced its acquisition of Tishman Construction Corp., a leading provider of construction management services in the United States and the United Arab Emirates, in a $245 million transaction including $202 million in cash and the remainder in AECOM common stock.[19] On July 13, 2014, AECOM announced its acquisition of URS Corporation, an engineering, construction, and technical services firm for US$56.31 per share in cash and stock.[20] Effective July 10, 2014, it acquired ACE International Consultants SL, a Madrid-based provider of consulting services. In July 2014, it acquired Hunt Construction Group, adding to AECOM's construction services business.[21]

In 2012, the company had assets worth $5.67 billion, and equity of $2.23 billion.[22] In 2015, Aecom had operating income of $535.19 million and net income of $154.85 million.[23] In 2016, Aecom had revenue of $17.4 billion.[22] In 2017, Aecom reported full year revenue of $18.2 billion, a new high for the company. Net income for the year came to $339 million. Operating income for the full year came to $241 million.[24]

Management

AECOM's first president and CEO was Richard Newman, who came to Ashland through its acquisition of DMJM. Newman served as president of Ashland Technology and was instrumental in the creation of AECOM.

In 2005, John M. Dionisio succeeded Newman as president and CEO of AECOM. In 2011, Dionisio became chairman of the company.[25] In March 2014, Michael S. Burke succeeded Dionisio and serves as the company's current chairman and CEO. Dionisio remains on AECOM's Board of Directors.[26]

In 2011, Stephen M. Kadenacy was named chief financial officer and currently serves as president.[27] In 2017 Kadenacy was succeeded by Randy Wotring.

In May 2014, Kevin Lynch was appointed as executive vice president and chief strategy officer at AECOM.[28]

In March 2015, Carla Christofferson was appointed as executive vice president and general counsel of the firm.[29]

In August 2015, Mary E. Finch was named executive vice president and chief human resources officer, effective September 28.[30]

Services

AECOM provides professional technical and management support services to both public and private sector clients. AECOM currently works in the following areas: the Americas, Europe, Asia, Middle East, Africa, and Australia/New Zealand. Services relate to areas including Archaeology, Architecture & Design, Asset Management, Construction, Cost Management, Decommissioning & Closure, Economics, Engineering, Environmental Services, International Development, IT & Cyber Security, Operations & Maintenance, Planning & Consulting, Program, Management/Construction Management, Risk Management & Resilience and Technical Services.[31]

Corporate affairs

AECOM is headquartered in Los Angeles, California, United States, with clients in more than 150 countries. The company reported a revenue of US$17.4 billion during the 12 months that ended September 30, 2016.[32]

Major projects

Awards

AECOM and its projects have received various awards, including:

  • 2017 Number 1 Global Design Firm.[35]
  • 2016 Number 1 Global Design Firm.[36]
  • 2015 Number 1 Global Design Firm.[7]
  • 2015 Number 1 Green Building Design Firm.[37]
  • 2015 Number 1 International Design Firm.[38]
  • 2015 Number 1 Transportation and Water.[7]
  • 2015 Number 2 Environmental Firm.[39]
  • 2015 Global award for NCE/ACE Consultants of the Year.[40]
  • 2015 Notre Dame Global Adaptation Index Corporate Prize for United Nations International Strategy for Disaster Risk Reduction Disaster Reduction Scorecard, 2015 Project Merit Award for Climate Change Adaptation, 2015 Project Merit Awards for Environmental Remediation and Habitat Protection.[41]
  • The Institution of Structural Engineers 2013 Supreme Award for structural engineering of the Taizhou Yangtze River Bridge.[42]
  • Financial Times names AECOM Best Workplaces.
  • 2009 "Best of the Best" winner by Black EOE Journal, Hispanic Network Magazine, and Professional Woman's Magazine for its commitment to diversity and its excellence in fostering an inclusive environment for employees, clients, and business partners.[43]

See also

Notes

References

  1. ^ a b c d e f "Aecom 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. November 2017.
  2. ^ Technically Brooklyn. [Publicly traded company AECOM takes space in Industry City https://technical.ly/brooklyn/2018/01/31/aecom-industry-city/], January 31, 2018. Accessed March 4, 2018.
  3. ^ Fortune, [1], 2017. Accessed March 4, 2018.
  4. ^ Fortune, [2], 2016. Accessed June 13, 2016.
  5. ^ Fortune, [3], 2015. Accessed Feb 15, 2016.
  6. ^ "AECOM recognized by Fortune magazine as a World's Most Admired Company for third consecutive year". www.aecom.com. Retrieved 3 April 2018.
  7. ^ a b c "The 2015 Top 500 Design Firms". ENR. Retrieved July 26, 2015.
  8. ^ "AECOM Company Name: Stock Quote & Company Profile". BusinessWeek. Retrieved 27 January 2015.
  9. ^ "AECOM (ACM: NYSE): Stock Quote & Company Profile". AECOM Press. Retrieved 16 Feb 2016.
  10. ^ "Trading Symbol Germany E6Z: Stock Quote & Company Profile". BORSE Frankfort Press. Retrieved 5 August 2016.
  11. ^ "Aecom IPO back on after four-year wait". Marketwatch. 24 January 2007. Retrieved 2 June 2018.
  12. ^ "AECOM History, Date Dec 13, 2007". referenceforbusiness.com. Retrieved Feb 16, 2016.
  13. ^ "AECOM Technology buys Ellerbe Becket". Biz Journals. 26 October 2009. Retrieved 2 June 2018.
  14. ^ "AECOM corporate website - press release on Davis Langdon merger". AECOM. 2013. Archived from the original on November 27, 2013. Retrieved November 13, 2013. {{cite web}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  15. ^ "AECOM filed this Form S-1 on 03/08/2007". SEC Filings. AECOM. 2007-03-08. Form S-1 (U.S. Securities and Sexchange Commission; Registration Statement Under The Securities Act of 1933). Retrieved 2018-06-13.
  16. ^ "AECOM, Form 10-K, Annual Report, Filing Date Dec 13, 2007". secdatabase.com. Retrieved Dec 30, 2012.
  17. ^ "AECOM, Form 8-K, Current Report, Filing Date Feb 12, 2008". secdatabase.com. Retrieved Dec 30, 2012.
  18. ^ "AECOM, Form 8-K, Current Report, Filing Date Jul 31, 2008". secdatabase.com. Retrieved Dec 30, 2012.
  19. ^ "AECOM acquires Tishman Construction Corp. in US$245-million transaction". AECOM. Retrieved Oct 3, 2017.
  20. ^ "AECOM to acquire URS Corporation". AECOM. Retrieved Jul 17, 2014.
  21. ^ "ACM (NYSE)". google.com. Retrieved Feb 16, 2016.
  22. ^ a b "AECOM, Form 10-K, Annual Report, Filing Date Nov 19, 2012" (PDF). secdatabase.com. Retrieved Dec 30, 2012.
  23. ^ "AECOM, Financial Report". marketwatch.com. Retrieved Feb 25, 2015.
  24. ^ "AECOM reports fiscal fourth quarter and full year 2017 results". Aecom. November 13, 2017.
  25. ^ "John M. Dionisio: Executive Profile & Biography". Bloomberg.
  26. ^ Fahy, Michael. "Aecom promotes Michael Burke to chairman - ConstructionWeekOnline.com".
  27. ^ "Stephen M. Kadenacy: Executive Profile & Biography". Bloomberg.
  28. ^ "Kevin Lynch".
  29. ^ "Carla Christofferson Joins AECOM as EVP, General Counsel; Michael Burke Comments - GovCon Wire".
  30. ^ https://finance.yahoo.com/news/aecom-appoints-mary-e-finch-120000258.html
  31. ^ "Solutions - AECOM".
  32. ^ "AECOM Reports Fiscal Fourth Quarter and Full Year 2016 Results". AECOM. Retrieved 14 May 2017.
  33. ^ "Aecom Tapped for Related's $1B Gehry-Designed The Grand". labusinessjournal.com. 2018-01-22. Retrieved 2018-01-22.
  34. ^ "Program, Cost, Consultancy". AECOM. Archived from the original on 4 February 2015. Retrieved 27 January 2015. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  35. ^ "ENR 2017 Top 500 Design Firms". Engineering News-Record. BNP Media. Retrieved May 14, 2017.
  36. ^ "The 2016 Top 500 Design Firms". Engineering News-Record. BNP Media. Retrieved May 14, 2017.
  37. ^ "The 2015 Top 100 Green Buildings Design Firms". ENR. Retrieved July 26, 2015.
  38. ^ "The 2015 Top 225 International Design Firms". ENR. Retrieved July 26, 2015.
  39. ^ "The 2015 Top 200 Environmental Firms". ENR. Retrieved July 26, 2015.
  40. ^ "AECOM wins global award as NCE/ACE Consultants of the Year named". Infrastructure Intelligence. Retrieved Mar 23, 2015.
  41. ^ "AECOM wins four environmental industry awards". 2015.
  42. ^ Institution of Structural Engineers (2013). Winners Archived 2015-06-10 at the Wayback Machine, Structural Awards. Accessed on October 25, 2015.
  43. ^ "Recognition lists". The Employment and Entrepreneur Magazinel.
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