WSP Global to acquire Ricardo

Leading professional services firm WSP Global has announced that it has reached agreements to acquire the entire issued and to be issued share capital of Ricardo plc for 430 pence per share.

The Acquisition underscores WSP’s commitment to expanding its footprint in high-growth sectors worldwide.

Headquartered in the United Kingdom, Ricardo is a global consulting firm delivering strategic, advisory, and engineering solutions that intersect the global transport, energy and environment agendas. Operating in over 20 countries, Ricardo is home to approximately 2,700 experts based across Europe, Australia, North America, Asia and the Middle East. Its activities are grouped under two main portfolios:

• Future-focused air quality, water management, energy resilience, policy strategy, and advisory services (EE) and Rail and Mass Transit (Rail) business segments supported by approximately 1,700 professionals; and 
• Automotive and Industrial (A&I) and Performance Products (PP) business segments, with approximately 1,000 professionals delivering propulsion design and systems engineering services, with niche manufacturing capabilities.

Over the last few years, Ricardo has been reorienting its business to become a leading strategic and engineering consultancy firm, focused on its EE and Rail portfolio. Under WSP’s ownership, Ricardo will continue its ongoing strategic review of the A&I and PP business units. While no firm decisions have been taken, WSP has suggested that the outcome of its strategic review is likely to result in a sale of the A&I and PP businesses at the appropriate time.

Specialised and differentiated, Ricardo’s value-added expertise in rail, air quality, water management, energy resilience, policy strategy, and advisory supplements and elevates WSP’s offering in core market sectors. Geographically, Ricardo matches up well with WSP’s existing footprint and further strengthens its presence in several key markets, including the UK, Australia and the Netherlands.  

Alexandre L’Heureux, president and CEO of WSP, 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.

“We are poised to enhance our ability to deliver innovative solutions as we combine our global reach and resources with Ricardo’s complementary expertise. Moreover, the shared entrepreneurial spirit and technical excellence between our teams will position us to create further value for our clients. We look forward to welcoming Ricardo’s talented professionals to WSP and seizing new opportunities with our broadened service offering.”