Aecom, a leading design and engineering firm in the facilities, transportation and environmental sectors, priced its 35 million share offering at $20, the high end of the proposed $18-$20 range. Insiders sold 15.2 million shares on the deal. As a public company, Aecom hopes to continue its strong track record of organic growth (approx. 10% CAGR over the past decade) as it expands its domestic and international operations, capitalizes on cost savings opportunies and relies on its unlevered balance sheet to support its position as a consolidator. The stock is slated to begin trading on the NYSE this morning under the symbol "ACM." Morgan Stanley, Merrill Lynch and UBS Investment Bank were the joint book runners on the deal.
