WSP Global has agreed to acquire Ricardo a U.K.-based engineering and strategic consultancy, for £363.1 million (approximately $670 million) in cash. The deal supports WSP’s 2025-2027 Global Strategic Action Plan and strengthens its presence in key markets, including the U.K., Australia, and the Netherlands.

Headquartered in the U.K., Ricardo operates in 21 countries, including offices in Montreal and Toronto, with 2,700 professionals across sectors such as rail, air quality, energy resilience, and environmental policy. WSP plans to maintain Ricardo’s strategic review of its automotive and industrial and performance products segments, which could be sold at a later date, said Montreal-based WSP.

“The proposed acquisition of Ricardo perfectly aligns with WSP’s vision for sustainable, compounding growth and our clear ambitions to expand in advisory, energy transition, water solutions and the rail sector over the next three years,” said Alexandre L’Heureux, president and CEO of WSP. “We are poised to enhance our ability to deliver innovative solutions as we combine our global reach and resources with Ricardo’s complementary expertise.”

WSP will finance the acquisition through a combination of a new £230-million term loan facility, arranged by RBC Capital Markets, and existing cash and credit facilities. Legal advice is being provided by Linklaters LLP.

The acquisition is expected to close in the fourth quarter of 2025, pending regulatory approvals and a shareholder vote.

Pictured: Ricardo office

Photo: Ricardo