Deal for Ricardo due to be wrapped up this autumn
WSP said it has agreed to buy Sussex-based engineering consultant Ricardo for 拢281m, its second deal for a UK consultant in less than two weeks.
Ricardo, which was set up 110 years ago and is based in Shoreham-by-Sea, improved turnover by 7% to 拢475m in the year to June 2024, posting a pre-tax profit of 拢4.3m from an 拢8m loss last time.
Ricardo employs around 2,700 people and works out of 20 countries and specialises in water and energy services along with rail and mass transit.
It also has an automotive and industrial and performance products business which WSP said it is likely to sell.
In a statement, WSP said: 鈥淭his acquisition represents an excellent opportunity for WSP to progress its 2025-2027 Global Strategic Action Plan and accelerate its expansion in targeted high-growth areas.鈥�
The deal is expected to complete in the final quarter of this year.
Earlier this month, WSP announced it had bought London healthcare and life sciences specialist Lexica for an undisclosed sum.
The firm was set up in 2014 as a wholly owned subsidiary of Guy鈥檚 and St Thomas鈥� NHS Foundation Trust.
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