Completion of PLC Consulting Acquisition

RNS Number : 2537H

Ricardo PLC

31 July 2019

 

31^st July 2019

Ricardo plc

("Ricardo" or the "Group")

RICARDO COMPLETES ACQUISITION OF PLC CONSULTING PTY LTD

 

Ricardo plc ("Ricardo"), a global engineering, technical, strategic and environmental consultancy business,  announces today that, further to the statement on 1^st July 2019, it has completed the acquisition of the entire share capital of PLC Consulting Pty Ltd for a total maximum cash consideration of AUD9.64 million (£5.36m), subject to any adjustment to reflect net cash balances and normalised levels of working capital, certain financial performance targets and retention of key staff.

The Board of Ricardo plc is therefore pleased to confirm today the launch of Ricardo Energy Environment & Planning. In accordance with the announcement on 1^st July 2019, the company will operate as part of Ricardo's Energy & Environment business, complementing and extending Ricardo's existing energy and environment capabilities and services within the growing Australian market.

Note: An exchange rate of 1.80 has been used throughout this announcement 

Further enquiries

Ricardo plc	Tel: [phone]
Dave Shemmans, Chief Executive Officer Ian Gibson, Chief Financial Officer	Website: www.ricardo.com
Newgate Communications Adam Lloyd / Ian Silvera	Tel: [phone] [e-mail]

 

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