Ricardo Plc to Acquire Inside Infrastructure to Expand Its Environmental Capabilities Across Australia

LONDON–(BUSINESS WIRE)–Ricardo plc, a world-class environmental, engineering, and strategic consulting company, has today signed an agreement to acquire Inside Infrastructure, a privately held consultancy business based in Adelaide, Australia, for an undisclosed consideration. The agreement includes the acquisition of the entire business, operating assets, and employees, and will expand Ricardo�s environmental capabilities across Australia.

Inside Infrastructure provides environmental and technical advisory services through its team of 25 specialists, supporting the water, utility, mining, resources, healthcare, infrastructure, and government sectors in developing, delivering, and managing their projects and assets.

Inside Infrastructure’s customer base complements Ricardo’s existing presence in water and utilities as well as offering Ricardo the opportunity to expand into adjacencies through a strong customer base in mining and Australian government sectors. Ricardo’s existing Australian business has a broad expertise in upstream policy and consultancy services. The acquisition will build on this and extends its implementation capability.

Graham Ritchie, Ricardo CEO, said: “Ricardo’s continued investment in the environment sector aligns with the significant global demand to address climate change and deliver more ambitious action on decarbonisation.

“Inside Infrastructure fits well within all the characteristics of our investment strategy – it’s environmentally led and strengthens our current market position as well as opening into new growth sectors.”

The contract is subject to customary closing conditions and is expected to conclude within the next month.

About Ricardo

Ricardo plc is a world-class environmental, engineering, and strategic consulting company listed on the London Stock Exchange. With over 100 years of engineering excellence, we provide exceptional levels of expertise in delivering leading-edge and innovative cross-sector sustainable products and solutions, helping our global customers increase efficiencies, achieve growth and create a clear and safer future. Our mission is clear –- to create a world fit for the future. For more information, visit www.ricardo.com.

About Inside Infrastructure

Inside Infrastructure is an independent Australian consulting company providing advisory services. Founded in 2010, the firm provides advisory services to the government, utility (water) and mining sectors. Key skills are in strategy, regulation and policy, planning, technical assessment, investment appraisal and asset management. www.insideinfrastructure.com.au

Contacts

Ricardo plc

Natasha Perfect, Group Marketing and Communications

Tel: 01273 455611

Website: www.ricardo.com

SEC Newgate

Elisabeth Cowell / Ian Silvera / Isabelle Smurfit

Tel: 020 7680 6882

E-mail: ricardo@secnewgate.co.uk