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Ricardo ( (GB:RCDO) ) has shared an update.
Ricardo PLC has announced the acquisition of an 85% stake in E3 Advisory, an Australian infrastructure advisory firm, for AUD $101.4 million, with plans to acquire the remaining 15% by 2028. This acquisition aligns with Ricardo’s strategic goal to enhance its portfolio in environmental and energy transition solutions, significantly expanding its consulting capabilities in Australia, particularly in the transport, infrastructure, clean energy, water, and mining sectors. The deal is expected to accelerate Ricardo’s portfolio transformation to a high-growth, high-margin business. The acquisition will be funded by the proceeds from the sale of Ricardo Defense, marking a decisive step in the company’s strategic shift towards its core consulting capabilities.
More about Ricardo
Ricardo PLC is a strategic and engineering consultancy focused on environmental and energy transition solutions. The company operates in the infrastructure and transport sectors, providing advisory services to both government and private clients. Ricardo is aiming to strengthen its market position in the Australian energy and transport infrastructure sectors.
YTD Price Performance: -15.56%
Average Trading Volume: 232,269
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £250M
For detailed information about RCDO stock, go to TipRanks’ Stock Analysis page.
