Australian infrastructure specialist E3 Advisory has been picked up by UK-based world environmental and engineering consultancy Ricardo in a deal price round AU$100 million.
Established in 2014, E3 Advisory boasts a headcount in extra of 100 professionals primarily based out of places of work in Brisbane, Sydney, Melbourne and Perth, who serve authorities shoppers and people within the crucial infrastructure sectors.
Listed on the London Inventory Change and tracing its heritage again greater than a century, Ricardo in the meantime has a workforce of three,000-plus advisers and technicians throughout 4 continents producing revenues pushing the £500 million mark.
“E3 offers Ricardo with a compelling strategic alternative, providing additional scope to extend our mixture of technique consulting and advisory companies,” said CEO Graham Ritchie. “We stay up for working with the proficient crew and mixing our capabilities to supply differentiated advisory and technical consulting options to our shoppers within the Australian market and in addition internationally.”
Taking its identify from ‘effectivity, effectiveness and financial worth’, E3 offers a spread of technique, transactions, disputes and business companies protecting the infrastructure life-cycle, with a selected concentrate on the transport, vitality, water, and mining & assets sectors.
Worker-owned, E3 has been led by founding member and managing principal Sutina Tsang since 2022 alongside a crew of roughly two dozen fellow principals. The ~$100 million deal, which coincides with Ricardo promoting off its defence enterprise, sees the engineering group purchase an preliminary 85 p.c of the corporate, with the rest anticipated to be picked up by the start of 2028.
“E3 Advisory’s expert crew, sturdy observe file, and substantial progress potential are extremely complementary to our geographic focus and functionality in vitality and transport infrastructure,” Ricardo said. “The acquisition is in step with the group’s shift to its core consulting capabilities in environmental transition options and permits us to take a number one place inside the Australian market.”
Ricardo mentioned the acquisition would elevate its native headcount to virtually 300, and comes amid a flurry of M&A and different exercise within the sustainability sector forward of obligatory local weather reporting, each as to breakaway start-ups, investments, and consolidation. Different offers over the previous week embrace RSK’s buy of Edge Impression, and EMM Consulting bringing on Quadrant as minority stakeholder.
