Ricardo acquires entire share capital of Transport Engineering, a leading rail technical services consultancy based in Australia.
Transport Engineering provides technical advisory, design and engineering services to an established client base in both the public and private sector.
Acquisition adds highly skilled and knowledgeable team to our global community.
We are delighted to announce that Ricardo plc has signed a share purchase agreement to acquire the assets, operations and employees engaged in the Transport Engineering Pty Ltd business.
The acquisition is expected to complete on or before 30 June 2019, at which point the business will adopt the Ricardo brand identity and operate as the Australian division of our rail team, joining a network of experts across Europe, the Middle East and Asia.
The team specialise in the full life-cycle management of rolling stock and maintenance procurement programs, and share expertise in many of the technical disciplines we offer, such as safety engineering, RAM, systems integration, human factors and rolling stock testing and commissioning.
By joining Ricardo, they will be able to offer an even wider range of technical services to a client list that already includes important public organisations such as Transport for New South Wales and the Victoria State Government, and major industry suppliers such as Raytheon, Thales and Keolis.
Stephen Boyd, Managing Director of Transport Engineering, will continue to lead his team within the Australia and New Zealand markets. "I am very excited to be joining an international rail business of Ricardo’s calibre and to see the business I’ve built over the past five years embark on its next stage of growth," he said. "By leveraging Ricardo’s scale and resources, we will be able to expand rapidly across Australia and New Zealand and broaden the range of technical services we already offer.”
Dave Shemmans, CEO of Ricardo plc added: “I am delighted to announce the signing of the share purchase agreement with Transport Engineering and look forward to welcoming Stephen and his team into the global Ricardo family. I am excited about the breadth and depth of experience that Transport Engineering will bring to Ricardo and the opportunities this will open for us in Australia.”
The addition of Transport Engineering extends our global rail team to more than 700 staff members and also opens a vibrant new market for us.
“I am delighted that Stephen and his team are joining us” says Paul Seller, the Managing Director of our rail division. “They have a built a first-class operation in Australia, with an impressive portfolio of projects and capabilities. By supporting their desire to offer an increased range of technical disciplines to their clients, we can help them continue to grow within the Australian market and, by extension, support our mission to build a world-class rail services business”.