AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for public and private clients in more than 130 countries around the world, announced today that South Africa-based BKS has agreed to join the company.
With approximately 900 employees, BKS is a multidisciplinary consulting engineering and management firm with headquarters in South Africa and operations across Africa. Established in 1965, the company provides engineering and consulting services for public- and private-sector clients in the areas of buildings, stadia, transportation, water and sanitation, mining and energy.
“AECOM’s vision for a more sustainable future supports our goals to offer customized solutions for sustainable development,” said BKS Chief Executive Officer Danai Magugumela. “With similar values and objectives, we look forward to being able to provide our clients with continued excellence and enhanced services while offering greater access to career-development opportunities for our employees.”
As a result of the transaction, AECOM will own 80% of BKS, while the existing investor in BKS will hold a 20% interest. The parties expect that BKS will continue to hold a level 2 contributor status in terms of South Africa’s Broad Based Black Economic Empowerment codes.
The transaction is subject to customary closing conditions, including the approval of the Competition Commission of South Africa, and is expected to close during the fourth calendar quarter of 2012.
Source: Business Wire – Press Release – 27 August 2012