AECOM Technology Corp (NYSE:ACM) CEO Michael Burke discussed on CNBC in a recent interview his company’s acquisition of Hunt Construction Group, Inc.
The AECOM Technology Corp (NYSE:ACM) chief was first asked why this new deal in just two weeks. The price to be paid for Hunt was not disclosed by the company. AECOM just recently disclosed that it will buy URS Corp (NYSE:URS) for $4 billion.
According to AECOM Technology Corp (NYSE:ACM) CEO Michael Burke, the acquisition of both companies is in line with the goal of his firm to build a stronger integrated infrastructure company.
“As you’ve heard us say before, our core strategy is to create the premier, fully-integrated infrastructure firm in the world. Clearly, this is something that fulfills that strategy. Hunt is one of the best construction firms in the world in sports, aviation and healthcare. We also design facilities in that space so bringing the two together is the right strategy,” he said.
The AECOM Technology Corp (NYSE:ACM) boss was then asked how his company will be able to integrate both the companies that they have acquired at the same time. Burke was told there may be concern that the company will not be able to handle such a task. He was also asked why the flurry of acquisitions in less than a month.
“First of all, it is more of a coincidence than anything. We started talking to Hunt almost a year ago. We started working on the URS transaction almost six months ago. It is more of a coincidence that the timing is within two weeks but it does help us aggressively move to complete our strategy. These two acquisitions entirely fit within that strategy to bring these fully integrated services at this time,” he explained.
Furthermore, the CEO said that shareholders and investors should not worry about the company being able to successfully integrate both URS Corp (NYSE:URS) and the Hunt Construction Group, Inc. into AECOM Technology Corp (NYSE:ACM) because they have a very capable team which has been through numerous acquisitions and integrations before. This team, he said, knows what they are doing and have what it takes to complete these transitions.