Aecom buys rest of FT Services
Aecom has bought the remaining 50% equity interest in FT Services, which is based in Calgary in the Canadian province of Alberta.
FT was formed in January 2007 between Flint Energy Services, an Aecom subsidiary, and Broadspectrum. FTS specializes in maintenance and turnaround services for the Canadian resource and energy industry. FTS’ financials will be consolidated into Aecom’s construction services segment. FTS generated approximately US$210m (£169m) in revenue in the last year.
Aecom said that with FTS it is able to offer clients integrated, full-lifecycle services, particularly on turnaround projects and those with construction components.
“Our acquisition of the remaining 50 percent in FT Services further strengthens our highly differentiated and complete offering within the Canadian oil and gas market, and enables a true full suite of services to leading energy clients, particularly in regards to growing maintenance needs,” said Dan McQuade, group president, construction services. “With the combination of our strong client relationships, we have established a diverse foundation for growth within this market.”
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This article was published on 11 Oct 2016 (last updated on 11 Oct 2016).