Ricardo completes acquisition of Transport Engineering Pty Ltd | CustomNews.pk

Ricardo completes acquisition of Transport Engineering Pty Ltd

SYDNEY: Ricardo plc, a global engineering, technical, strategic and environmental consultancy business,  announces today that, further to the statement on 13 May 2019, it has completed the acquisition of the entire share capital of Transport Engineering Pty Ltd  for a total maximum cash consideration of AUD$53.6 million (£28.9 million), subject to any adjustments for cash and normalised net working capital and certain financial performance targets. [the_ad id="32940"]The Board of Ricardo plc confirmed the launch of Ricardo Rail Australia. In accordance with the announcement on 13 May 2019, the business will form a core part of the Group's Rail segment adding breadth and depth to Ricardo's existing strong rail capabilities and the acquisition will provide Ricardo with a strong foothold in the rapidly growing Australian rail market together with a footprint for other Ricardo businesses.
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