WSP Set to Expand Horizons with Ricardo Acquisition
According to a recent proclamation, Ricardo has been providing autonomous safety evaluations for the Riyadh metro initiative.
INTERNATIONAL: WSP Global, a Canadian firm specializing in professional services, has made the decision to acquire all shares of the UK-based engineering consultancy Ricardo plc.
The operations of Ricardo are primarily divided into two key areas:
- Sustainability initiatives including air quality management, water resource strategies, energy resilience consulting, and rail and mass transit solutions;
- The automotive sector along with industrial performance products.
Lately,Ricardo has been shifting its focus towards enhancing its sustainability and rail-related services. WSP indicated that there will be an ongoing evaluation of the automotive and industrial segments.while no definitive actions have been confirmed yet, it’s anticipated that these sectors may be sold off when the timing is right.
The President & CEO of WSP, Alexandre L’Heureux remarked that acquiring Ricardo aligns seamlessly with their vision for lasting growth. He emphasized their commitment to expanding in advisory roles related to energy transition as well as water management and rail solutions over the next few years.
This acquisition was announced on June 11 and is projected to finalize by Q4 of 2025. The deal carries an enterprise value estimated at £363 million.
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