Ricardo: A New Chapter Begins with WSP Acquisition at £281m
Deal News | Jun 11, 2025 | Business Cloud
Ricardo, a London-based environmental, engineering, and strategic consulting firm, is set to be acquired by WSP Global, a Canadian professional services company, for £281 million. This acquisition marks the end of Ricardo's listing on the London Stock Exchange. The move follows criticism from Ricardo's second-largest shareholder, Science Group, who had previously questioned the effectiveness of Ricardo's leadership. The acquisition is positioned as a strategic alignment with global market trends and WSP's objectives, promising enhanced opportunities for Ricardo's employees and clients through WSP's broader capabilities. WSP's CEO, Alexander L’Heureux, emphasized the shared vision for growth and the complementary nature of both firms in areas like energy transition and water solutions.
Sectors
- Professional Services
- Environmental and Strategic Consulting
Geography
- United Kingdom – Ricardo is a London-based company listed on the London Stock Exchange, making the UK a primary geography relevant to this transaction.
- Canada – WSP Global, the acquiring company, is headquartered in Canada, which is relevant to the transaction.
Industry
- Professional Services – WSP Global operates as a professional services firm, providing engineering and consulting services, which aligns with Ricardo's environmental and strategic consulting operations.
- Environmental and Strategic Consulting – Ricardo specializes in environmental, engineering, and strategic consulting, making this sector relevant to the acquisition.
Financials
- £281 million – The acquisition price that WSP Global will pay to acquire Ricardo.
- 430 pence per share – The cash payment per share for Ricardo shareholders, representing a 28.4% premium.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ricardo | Target company | Company | Ricardo is an environmental, engineering, and strategic consulting company based in London. |
| WSP Global | Bidding Company/Buyer | Company | WSP Global is a professional services firm headquartered in Canada with over 72,000 employees. |
| Science Group | Shareholder | Company | Science Group is the second largest shareholder of Ricardo, holding a 20% stake. |
| Mark Clare | Chairman of Ricardo | Person | Mark Clare is the chairman of Ricardo, whose leadership was criticized by Science Group. |
| Alexander L’Heureux | President and CEO of WSP Global | Person | Alexander L’Heureux is the president and CEO of WSP Global, leading the strategic acquisition. |