REG - Ricardo PLC - Ricardo plc completes acquisition of E3 Advisory

RicardoAnnouncement

07/01/2025 07:00

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RNS Number : 3011S  Ricardo PLC  07 January 2025

RNS

7 January 2025

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

 

 

- ENDS-

 

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.

 

 Investor and media relations
 Ricardo Group plc  Judith Cottrell   Tel 01273 455 611

                    Natasha Perfect   investors@Ricardo Group.com (mailto:investors@ricardo.com)
 SEC Newgate        Elisabeth Cowell  Tel 020 757 6882

                    Ian Silvera       Ricardo Group@s (mailto:Ricardo%20Group@secnewgate.co.uk) ecnewgate.co.uk
                                      (mailto:Ricardo%20Group@secnewgate.co.uk)

 

 

 

 

 

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