RNS

Ricardo plc completes acquisition of E3 Advisory

Ricardo plc today announces the completion of the acquisition of E3 Advisory, a leading Australian infrastructure advisory firm that advises both governments and private clients through the infrastructure project lifecycle, with expertise in transport (road and rail), clean energy, water, and mining and resources infrastructure.

Transaction details

As earlier disclosed, under the terms of the agreement, Ricardo has acquired 85% of E3 Advisory for an aggregate consideration of AUD $101.4m (£51m*), with the remaining 15% expected to be acquired after 3 years.

Commenting on the announcement, Graham Ritchie, Ricardo Group CEO stated:

"E3 Advisory forms part of the next chapter for Ricardo and plays a pivotal role in transforming our business to create a leading position in environmental and energy solutions. E3 Advisory brings value-added strategic advisory capability to the Group's integrated global solutions offering, whilst also accelerating our commercial and operational scale in energy, water and transport in Australia, and more widely across the APAC region. We are delighted to welcome E3 Advisory to the Ricardo team."

* Rate of exchange AUD | GBP 1.99 on 13 December 2024

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About Ricardo Group plc

Ricardo Group plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 100 years of engineering excellence and close to 3,000 employees in more than 20 countries, we provide exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and scarce resources, environmental services, together with safe and smart transport solutions. Our global team of consultants, environmental specialists, engineers, and scientists support our customers to solve the most complex and dynamic challenges to help achieve a safe and sustainable world. Visit www.Ricardo Group.com.