WSP completes acquisition of Ricardo plc, a global strategic and engineering consultancy firm

MONTREAL, Oct. 09, 2025 (GLOBE NEWSWIRE) — WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”), one of the world’s leading professional services firms, has completed its previously announced acquisition of Ricardo plc (“Ricardo”), a global strategic and engineering consultancy firm headquartered in the United Kingdom (the “Acquisition”). Delivering solutions that intersect the transport, energy and environment agendas, Ricardo operates in over 20 countries across Europe, Australia, North America, Asia and the Middle East.

In keeping with WSP’s 2025–2027 Global Strategic Action Plan, the Acquisition both accelerates growth in advisory, energy transition, water solutions and rail, and strengthens WSP’s presence in key markets such as the UK, Australia and the Netherlands.

“We are pleased to bring Ricardo into WSP and welcome new colleagues across the globe. The team’s deep, differentiated expertise in areas that are increasingly critical to our clients—air quality, water management, energy resilience, policy strategy and rail—enhances our offering and accelerates our momentum toward our strategic ambitions in high-growth sectors and markets,” expressed Alexandre L’Heureux, President and CEO of WSP. “We will now focus on integrating our teams and building on our combined strengths. Our complementary capabilities and shared passion for technical excellence position us to drive greater innovation and deliver added value as we support our clients through complex transitions.”

“Today marks a significant milestone for Ricardo as we proudly join WSP,” said Graham Ritchie, CEO of Ricardo. “WSP’s belief in our strategy and support for our continued journey reflects the strength of what we have built over the past few years since we launched our strategy focused on sustainable growth in key markets. Ricardo and WSP share values and a purpose-led culture, so this acquisition accelerates our ability to deliver a broader, more impactful offering to our clients. It also opens up exciting new opportunities for our talented teams—opportunities that would not have been possible without this partnership. We are committed to supporting WSP’s dynamic strategic vision and look forward to shaping the future together.”

FORWARD-LOOKING STATEMENTS
In addition to disclosure of historical information, WSP may make or provide statements or information in this press release that are not based on historical or current facts and which are considered to be forward-looking information or forward-looking statements (collectively, “forward-looking statements”) under Canadian securities laws. These forward-looking statements relate to future events or future performance and reflect the expectations of management of WSP (“Management”) regarding, without limitation, the growth, results of operations, performance and business prospects and opportunities of WSP or the trends affecting its industry.

Forward-looking statements in this press release include, without limitation, those information and statements related to the expected financial and other benefits of the Acquisition and its integration, growth, results of operations, business prospects and opportunities of WSP or trends affecting its industry, and their expected impact on WSP’s delivery of its strategic plan, including in high-growth areas and key markets, and its long-term vision, future growth, results of operations, performance, business, prospects and opportunities, WSP’s business outlook, objectives, development, plans, growth strategies and other strategic priorities, and WSP’s leadership position in its markets; and statements relating to WSP’s future growth, results of operations, performance, business, prospects and opportunities. Forward-looking statements can typically be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “forecast”, “project”, “intend”, “target”, “potential”, “continue” or the negative of these terms or terminology of a similar nature. Such forward-looking statements reflect current beliefs of Management and are based on certain factors and assumptions, which by their nature are subject to inherent risks and uncertainties. While WSP considers these factors and assumptions to be reasonable based on information available as at the date of this press release, actual events or results could differ materially from the results, predictions, forecasts, conclusions or projections expressed or implied in the forward-looking statements.

Forward-looking statements made by WSP are based on a number of assumptions believed by WSP to be reasonable as at the date of this press release, including assumptions about WSP’s ability to retain and attract new business, achieve synergies and maintain market positions arising from successful integration plans relating to the Acquisition; WSP’s ability to otherwise complete the integration of Ricardo within anticipated time periods and at expected cost levels; WSP’s ability to attract and retain key employees in connection with the Acquisition; Management’s estimates and expectations in relation to future economic and business conditions and other factors in relation to the Acquisition and resulting impact on growth and various other financial metrics; Management’s expectations in relation to the future performance and economic conditions and other factors in relation to Ricardo; the realization of the expected strategic, financial and other benefits of the Acquisition in the timeframe anticipated; the accuracy and completeness of the information (including financial information) provided by Ricardo and publicly available information; the absence of significant undisclosed costs or liabilities associated with the Acquisition; and other factors discussed or referred to in the “Risk Factors” section of WSP’s Management’s Discussion and Analysis for the fourth quarter and year ended December 31, 2024 (the “2024 MD&A”), and WSP’s Management’s Discussion and Analysis for the six-month period ended June 28, 2025 (the “Q2 2025 MD&A” and together with the 2024 MD&A, the “MD&As”) and filed on SEDAR+ at www.sedarplus.ca. If any of these assumptions prove to be inaccurate, WSP’s actual results could differ materially from those expressed or implied in forward-looking statements.

WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. For additional information on this cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP’s actual or projected results, reference is made to the MD&As, which are available on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and except as required under applicable securities laws, WSP does not undertake to update or revise these forward-looking statements, whether written or verbal, that may be made from time to time by itself or on its behalf, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by these cautionary statements, as well as other risks detailed from time to time in reports filed by the Corporation with securities regulators or securities commissions or other documents that the Corporation makes public, which may cause events or results to differ materially from the results expressed or implied in any forward-looking statement. As such, there can be no assurance that actual results will be consistent with forward-looking statements.

About WSP

WSP is one of the world’s leading professional services firms, uniting its engineering, advisory and science-based expertise to shape communities to advance humanity. From local beginnings to a globe-spanning presence today, WSP operates in over 50 countries and employs approximately 73,000 professionals, known as Visioneers. Together they pioneer solutions and deliver innovative projects in the transportation, infrastructure, environment, building, energy, water, and mining and metals sectors. WSP is publicly listed on the Toronto Stock Exchange (TSX:WSP).

About Ricardo

Ricardo plc is a global strategic, environmental, and engineering consulting company, listed on the London Stock Exchange. With over 110 years of engineering excellence and approximately 2,600 employees in more than 20 countries, Ricardo provides exceptional levels of expertise in delivering innovative cross-sector sustainable outcomes to support energy transition and environmental services, together with safe and smart mobility. Its global team of consultants, environmental specialists, engineers, and scientists support our customers to solve the most complex and dynamic challenges to help achieve a safe and sustainable world.