INTERNATIONAL: Canadian professional services group WSP Global has agreed to acquire the entire share capital of UK-based international engineering consultancy Ricardo plc.
Ricardo’s activities are grouped into two main portfolios:
- Air quality, water management, energy resilience, policy strategy and advisory services (EE), and Rail & Mass Transit business segments;
- Automotive & Industrial and Performance Products business segments.
Ricardo has been reorienting its business to focus on the EE and Rail portfolio. WSP said Ricardo would continue an ongoing review of the A&I and PP business units, and ‘while no firm decisions have been taken’, this is likely to result in a sale of the A&I and PP businesses ’at the appropriate time.’
WSP President & CEO Alexandre L’Heureux said ‘the proposed acquisition of Ricardo perfectly aligns with WSP’s vision for sustainable, compounding growth and our clear ambitions to expand in advisory, energy transition, water solutions and the rail sector over the next three years’.
The deal announced on June 11 is expected to be completed in Q4 2025. It represents an enterprise value of £363m.
