Global law firm Ashurst is advising Ricardo plc and Ricardo Australia Pty Ltd on its AUD $101.4 million (£51.0 million) acquisition of 85% of E3 Advisory, an Australian infrastructure advisory firm, advising both government and private clients through the infrastructure project lifecycle, with expertise in transport, infrastructure (rail and road), clean energy, water, and mining and resources. E3 Advisory was established on a commitment to achieving and demonstrating value for money in capital investments and services. Ricardo expects to purchase the remaining 15% of E3 Advisory by January 2028.
Concurrently, Ashurst is supporting Ricardo plc on the conditional US $85 million (£67.5 million) disposal of the Ricardo group's Defense Business to Proteus Enterprises LLC and Gladstone Investment Corporation, via GPD Acquisition Inc. Completion of the acquisition of E3 Advisory is conditional on completion of the disposal of the Defense Business.
The cross border Ashurst team is being led by corporate partners Kylie Lane and Tom Mercer, assisted by senior associates Otis David, Maria McAlister, Hugh Morris and Louise Johnson. The wider corporate team includes partners Susannah Macknay and Rehana Box and associates Phoebe Phan, Aalishna Alag and Victoria Padley. Employment advice is being provided by partner Jane Harvey, senior associate Mohamad Ardati and associate Ashlyn Ryan. Consultant Arthur Chong and associates Alexandra Hewett and Jack Kelley are advising on real estate aspects, and partner Stuart D'Aloisio is advising on IP matters. Partners James Clarke and Gaby Forbes are also advising.
