11:43 AM EDT, 06/11/2025 (MT Newswires) -- (Adds analyst comment and updates shares.)

WSP Global ( WSPOF ) , a professional services firm, on Wednesday said it has agreed to acquire U.K.-based global consulting firm Ricardo for 430 pence per share.

The deal reflects an enterprise value of 363.1-million British pounds.

Ricardo delivers strategic, advisory and engineering solutions across the global transport, energy and environment agendas and operates in over 20 countries.

Ricardo's activities are grouped into two main portfolios: the future-focused air quality, water management, energy resilience, policy strategy and advisory services (EE) and Rail and Mass Transit (Rail) business segments; and the Automotive and Industrial (A&I) and Performance Products (PP) business segments.

Under WSP's ownership, Ricardo will continue its ongoing strategic review of the A&I and PP business units. The outcome of the strategic review is likely to result in a sale of the units.

WSP has also obtained a fully committed "certain funds" term loan facility of 230-million British pounds. The rest of the deal consideration will be funded using cash on hand and credit facilities.

National Bank of Canada maintained its outperform rating on the shares of WSP and its $292 price target following the news.

The deal "demonstrates that WSP is capable of finding high-quality assets regardless of the macro backdrop at accretive valuations as demonstrated by the acquisition multiple," National Bank said.

WSP was last seen up $1.87 to $273.75 on the Toronto Stock Exchange.

Price: 273.81, Change: +1.93, Percent Change: +0.71