RICARDO PLC

M&A Activity • May 31, 2019

National Storage Mechanism | Additional information

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RNS Number : 6730A

Ricardo PLC

31 May 2019

31st May 2019

Ricardo plc

("Ricardo" or the "Group")

RICARDO COMPLETES ACQUISITION OF TRANSPORT ENGINEERING PTY LTD

Ricardo plc ("Ricardo"), 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 Board of Ricardo plc is therefore pleased to confirm today 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.

Note: An exchange rate of £1.00:AUD$1.85 has been used throughout this announcement.

Further enquiries

Ricardo plc	Tel: 01273 455611
Dave Shemmans, Chief Executive Officer Ian Gibson, Chief Financial Officer	Website: www.ricardo.com
Newgate Communications Adam Lloyd / Ian Silvera	Tel: 020 7680 6550 ricardo@newgatecomms.com

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