Ricardo 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.
“I am excited about the breadth and depth of experience that Transport Engineering will bring to Ricardo and the opportunities that this will bring for Ricardo in Australia. Transport Engineering has an excellent market reputation, strong customer relationships and a very similar culture of quality and excellence in engineering to that of Ricardo,” Dave Shemmans, CEO of Ricardo, said.
Transport Engineering has a strong technical advisory capability in the full life-cycle management of rolling stock and maintenance procurement programmes on behalf of its clients, as well as the provision of on-site inspectors and auditors in suppliers’ premises, safety engineering, RAM / maintenance engineering, project management, human factors, testing and commissioning and systems integration.
Transport Engineering employs circa 100 engineers and specialists across Australia and parts of Asia. The addition of Transport Engineering expands Ricardo’s rail business to around 700 members of staff.
Ricardo’s interest in the rail sector is underpinned by the increased global interest in urban and high-speed transport networks, and the rapid integration of critical and complex rail technologies as governments respond to accelerating levels of urbanisation.