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Canada-based WSP Global, one of the world’s leading professional services firms, has announced that it has reached an agreement with British environmental and engineering consulting firm Ricardo for acquisition of its entire stake in the company.
Under the deal, Ricardo shareholders will receive 430 pence in cash per share, a 28.4% premium to its closing price on June 10.
This 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.
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.
"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," remarked Alexandre L’Heureux, President and CEO of WSP.
"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 position us to create further value for our clients," he stated.
"We look forward to welcoming Ricardo’s talented professionals to WSP and seizing new opportunities with our broadened service offering," said L’Heureux.
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, the outcome of the strategic review is likely to result in a sale of the A&I and PP businesses at the appropriate time, he added.
According to WSP, this acquisition represents an excellent opportunity for the company to progress its 2025-2027 Global Strategic Action Plan and accelerate its expansion in targeted high-growth areas.
Specialized 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, it added.-TradeArabia News Service