13 March 2023 - acquisition
The engineering and environmental consultancy has announced the acquisition of the Australian water advisor Aither Pty Ltd for up to £17m. Aither is mainly based in Australia and it helps businesses and governments to make better decisions in relation to water and natural resources. The acquisition will strengthen Ricardo's exposure in Australia and also provide an entry into the US market where Aither has a small presence. Although not terribly significant the purchase is clearly a useful add on to the group and the shares remain a BUY
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