News

Ricardo Acquires AEA Europe, including NCEC

08/11/2012
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AEA Europe is a leading environmental consultancy providing technical consultancy services to the UK public sector, the European Commission, international agencies and private sector organizations. The company is a major supplier of services to the UK government, and has a reputation for providing authoritative and independent technical expertise to underpin policy development, implementation and evaluation, in areas including energy and climate change, air quality, sustainable transport, waste management, resource efficiency and chemical risk.

The acquisition announced today will see the AEA Europe business, including NCEC, with a total operational staff of approximately 400 located at five UK sites, transferring to Ricardo where it will operate as Ricardo-AEA under the continued leadership of Robert Bell, reporting to Martin Fausset, managing director of Ricardo UK. Based on its most recent reported results, the assets being acquired generated, for the year ended 31 March 2012, annual revenues of £39 million and delivered operating profit margins similar to those of the rest of the Ricardo group. Its acquisition represents an increase in the size of the business of approximately 20 percent.

Today’s announcement marks a significant and extremely positive step in the development of both the Ricardo and AEA Europe businesses, offering potential long-term and enduring benefits for customers, employees and investors alike. Ricardo and AEA are both extremely strong and highly respected businesses in their respective core markets, providing a wide range of high quality, expert technical, scientific and strategic consulting services including the delivery of major national and international programmes.

Please read the full statement here.