US-based engineering firm AECOM Technology Corp., a Fortune 500 company, has acquired India's Spectral Services Consultants, a mechanical, electrical and plumbing (MEP) and green building consultancy firm, for an undisclosed amount.
Spectral’s current management will be retained and Dr Prem C Jain will continue to act as chairman and managing director.
AECOM, which provides professional, technical and management support services across the globe, already has an Indian presence and worked as lead consultants in quite a few key projects including the Delhi-Mumbai Industrial Corridor (Maharashtra), GMR Hyderabad Aerotropolis and Lepakshi Knowledge Hub (Bangalore, Kolkata, Chennai and Hyderabad). Globally, AECOM has around 45,000 employees on board and posted revenues of $7.3 billion as of March 31, 2011. With this acquisition, AECOM and Spectral Services will be able to deliver end-to-end solutions in the building engineering space within the country.
According to Spectral, the company’s strategic network across India (Mumbai, Pune, Ahmedabad, Noida, Chandigarh, Kolkata, Bangalore, Hyderabad, Chennai and Kochi), will help AECOM gain an immediate pan-India presence.
“Spectral’s 31-year track record of serving clients across the country’s facilities market further strengthens AECOM’s ability to win complex and demanding projects in this key growth region,” said John M. Dionisio, AECOM’s president and CEO. “Spectral’s prominence in the hotel, leisure and commercial office sectors, as well as its growing reputation in the healthcare facilities arena, will complement AECOM’s offerings across India and Asia. The addition of Spectral to the AECOM family advances our Asian strategy and demonstrates our commitment to investing in emerging geographies,” he added.
“We see enormous opportunities opening up for private players in the sector, with India expected to spend around $1 trillion on infrastructure during the 12th Five Year Plan. It is a strategic joining of AECOM and Spectral to reinforce our foothold in the country and offer our clients a much wider range of products and services by leveraging the global capabilities of AECOM,” said Avinash Misra, senior vice-president and country director of AECOM (India).
There had been acquisitions of similar nature in the past. For instance, NYSE-listed technical professional services firm Jacobs Engineering Group Inc. has recently acquired majority ownership of Delhi-based Consulting Engineering Services India Pvt Ltd for an undisclosed amount. Consulting Engineering Services (India) is engaged in services related to power, infrastructure and civil engineering in India.