In a move that has been in the works for some time, Irving, Texas-based Fluor has sold its North American equipment business, AMECO, to One Equity Partners for $73 million.
Fluor announced the transaction in a Tuesday morning press release. The engineering and construction company first put AMECO up for sale in September 2019 at the same time it was entertaining offers for its government contracting segment, which quarterbacks business opportunities with the Department of Energy businesses.
In early 2020 Fluor would decide to keep its government contracting business. The company has moved ahead, however, with selling its AMECO units. Last August it announced the sale of its AMECO Caribbean equipment rental business for $22 million.
AMECO leases vehicles, construction equipment, support services, and related services to various industries and government agencies, the company said on its website. One Equity Partners is a private equity firm with over $6 billion in assets under its control, according to the firm’s website.
Fluor plans to discuss its quarterly financial performance with Wall Street analysts during a Friday morning conference call that will be webcast.
