Global design giant AECOM Technology Corp., Los Angeles, and leading New York City-based building construction manager Tishman Construction Corp. are linking up to share needed capabilities in a changing construction market. AECOM announced July 14 that it has paid $245 million to acquire Tishman. The deal, which had been rumored for the last several weeks, adds a construction powerhouse to the growing AECOM family of firms operating around the world, while offering Tishman a springboard to expand its operations beyond struggling commercial building markets in the U.S. “The addition of Tishman to the AECOM enterprise reflects our commitment to execute
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.