AECOM will relocate its global headquarters from the Century City business district in Los Angeles to downtown Los Angeles, effective January 1, 2021. The company will close its offices at 1999 Avenue of the Stars and consolidate its headquarters and Corporate employees into existing AECOM offices at 300 South Grand Avenue.
“As we continue our transformation to a higher-margin, lower-risk Professional Services firm, we are focused on ensuring our teams have the best opportunity to collaborate and deliver for our clients,” said Troy Rudd, AECOM’s chief executive officer.
As part of AECOM’s transformation, the company also sold its Power construction business to affiliates of CriticalPoint Capital. AECOM has worked to align the company around a global structure to advance collaboration and foster new growth opportunities.
In addition, AECOM has integrated its Design and Consulting Services (DCS) businesses into one global organization as part of the company’s phased strategy. The new unit will be led by Lara Poloni, AECOM’s president, the company reported in Oct. 2020. The merger will simplify the operating structure of the company and will enable greater connectivity and collaboration across the enterprise.
The recent announcement follows AECOM’s sale of it’s management services business for $2.4 billion, which the Affiliates of private equity firms Lindsay Goldberg and American Securities have completed in Feb. 2020.
The completed sale has accelerated AECOM’s value creation strategy and advances its ongoing transformation and focus on its higher-returning and lower-risk Professional Services business.
“We are continuing to prioritize our time and capital towards delivering on our commitment to our stakeholders, and optimizing our real estate portfolio is a key driver of achieving these objectives,” Rudd added.
AECOM (NYSE:ACM) is the world’s premier infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management.
We partner with our clients in the public and private sectors to solve their most complex challenges and build legacies for generations to come. On projects spanning transportation, buildings, water, governments, energy and the environment, our teams are driven by a common purpose to deliver a better world. AECOM is a Fortune 500 firm and its Professional Services business had revenue of approximately $13.6 billion in fiscal year 2019.