RSSInternational engineering and technology company 5606 Ricardo has announced an agreement to acquire the business, operating assets and employees engaged in the businesses of LR Rail, from Lloyd's Register Group.
The acquisition will be materially complete on or before 1 July 2015 and the business will operate as the core of a new international rail business within Ricardo and combined with Ricardo's existing rail industry expertise, to be branded Ricardo Rail. Current LR Rail managing director Paul Seller will take on the role of managing director of the Ricardo Rail business.
According to Ricardo, the acquisition is central to the delivery of growth in transportation and security, one of the company's three strategic pillars alongside energy and scarce resources and waste. The acquisition of LR Rail and the future growth of this business is driven by the increasing global interest in urban and high speed networks and the integration of critical and complex rail technologies as governments respond to accelerating levels of urbanisation. Ricardo therefore sees a strong and increasing demand for technical consulting and assurance services in the rail sector.
L R Rail is a highly successful rail consultancy and assurance business and is a trusted partner to a wide range of international clients. The company recorded, on a standalone basis, revenues of US$72 million in 2014 and has a staff of 440 rail engineers and specialists located at offices across Europe, Asia and the Middle East. LR Rail uses its understanding of critical and complex technologies and its independent expert advice to provide services ranging from rolling stock design, signalling and train control, intelligent rail systems, operational efficiency improvement, training and independent assurance services.
The acquisition will be materially complete on or before 1 July 2015 and the business will operate as the core of a new international rail business within Ricardo and combined with Ricardo's existing rail industry expertise, to be branded Ricardo Rail. Current LR Rail managing director Paul Seller will take on the role of managing director of the Ricardo Rail business.
According to Ricardo, the acquisition is central to the delivery of growth in transportation and security, one of the company's three strategic pillars alongside energy and scarce resources and waste. The acquisition of LR Rail and the future growth of this business is driven by the increasing global interest in urban and high speed networks and the integration of critical and complex rail technologies as governments respond to accelerating levels of urbanisation. Ricardo therefore sees a strong and increasing demand for technical consulting and assurance services in the rail sector.
L R Rail is a highly successful rail consultancy and assurance business and is a trusted partner to a wide range of international clients. The company recorded, on a standalone basis, revenues of US$72 million in 2014 and has a staff of 440 rail engineers and specialists located at offices across Europe, Asia and the Middle East. LR Rail uses its understanding of critical and complex technologies and its independent expert advice to provide services ranging from rolling stock design, signalling and train control, intelligent rail systems, operational efficiency improvement, training and independent assurance services.
