Ricardo PLC
British engineering and consultancy group specializing in automotive, transport, energy, environmental and strategic technology services.
Last updated October 16, 2026
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Overview
Ricardo is a British engineering, technology and consultancy business founded by engineer Harry Ricardo in 1915. It began as Engine Patents Limited and initially concentrated on advanced internal-combustion-engine research, intellectual property and military engineering. During the First World War, the company contributed to aircraft-engine, tank-mobility and tank-engine programmes. Its work on the Mark V tank engine helped establish a reputation for practical combustion and propulsion engineering, while its later Comet diesel-combustion system became influential in buses, coaches, trucks and commercial vehicles across Europe. The company established a laboratory at Shoreham-by-Sea in 1919 and gradually broadened its work beyond individual engine designs. Ricardo developed combustion systems, powertrains, transmissions, vehicle systems, test methods and specialist engineering tools for vehicle manufacturers, government agencies and industrial customers. Its historical projects covered petrol and diesel engines, aircraft propulsion, marine and submarine power, rail equipment, motorsport, motorcycles and military vehicles. During the Second World War, it supported aircraft and jet-propulsion programmes, including combustion-chamber and fuel-control work associated with Frank Whittle's early jet engine and the Barostat pressure-control device used in the Gloster E.28/39. From the post-war period onward, Ricardo expanded into consultancy and applied research. It worked on railway propulsion, alternative engine cycles, Stirling engines, advanced transmissions, aircraft and aerospace systems, and specialized energy-storage technologies. The company also maintained substantial testing capabilities at Shoreham-by-Sea, including rolling roads, acoustic facilities and engine test beds able to accommodate equipment ranging from small two-stroke engines to large locomotive power units. Ricardo's automotive work in the late twentieth and early twenty-first centuries included four-wheel-drive and driveline engineering, automatic transmissions, motorcycle-engine development, high-performance vehicle systems and motorsport hardware. Its 1994 acquisition of FF Developments strengthened its driveline business. The company subsequently worked on BMW Motorrad engines, Formula One gearbox components, Bugatti gearbox production and the McLaren M838T twin-turbocharged V8 engine. Ricardo technology also contributed to the JCB Dieselmax, which set a diesel land-speed record at Bonneville in 2006, and to the Foxhound protected vehicle developed with Force Protection for the UK Ministry of Defence. The group diversified materially into environmental and infrastructure consulting. Its 2012 acquisition of AEA Technology's distressed consultancy activities created Ricardo-AEA, later renamed Ricardo Energy & Environment. The business provided environmental assessment, energy analysis, chemical-emergency expertise and sustainability consulting. Ricardo also expanded its railway capabilities through the 2015 acquisition of Lloyd's Register Rail and participated in offshore-wind engineering, including work related to large wind-turbine gearboxes. By the late 2010s, Ricardo operated internationally and combined engineering design, testing, software, strategic consulting, environmental services and selected niche manufacturing. In 2017 it reported turnover of approximately £330 million and employed nearly 3,000 people, according to the referenced account. In 2025, the board recommended WSP Global's approximately $670 million takeover offer. The acquisition was completed in October 2025, ending Ricardo's status as an independently listed public company while preserving Ricardo as an engineering and consultancy brand within WSP.
History
Ricardo was founded in February 1915 by Harry Ricardo as Engine Patents Limited. Its earliest work was shaped by wartime requirements. In 1915 it helped develop a high-output piston engine for a flying boat, and in 1916 it contributed to tank-handling equipment and designed a low-smoke four-stroke crosshead engine for the Mark V tank. The first engine was completed in April 1917, and production soon reached approximately one hundred units per week. These programmes established the company as a specialist in combustion, power density, reliability and military mobility. A laboratory was established at Shoreham-by-Sea in 1919, around the time the business adopted the Ricardo and Co. name. During the 1920s, Ricardo developed its turbulent-head side-valve concept, intended to achieve some advantages of overhead-valve engines at lower cost. The design became the subject of prolonged patent litigation before recognition in 1932. Ricardo also designed a six-cylinder diesel engine that was manufactured by AEC and adopted for buses, coaches and lorries. Its Comet combustion system was subsequently used by manufacturers in several European countries. In the 1930s, Ricardo worked on high-speed diesel applications, aircraft engines and advanced vehicle powerplants. A modified diesel Kestrel V12 powered the Flying Spray, which achieved a diesel speed record at Bonneville in 1936. The company also participated in the development of the Rolls-Royce Crecy experimental aircraft engine. It designed a V-16 engine for the Alfa Romeo Tipo 162 in 1938. During the Second World War, Ricardo undertook extensive research for military and aerospace programmes. Its Barostat relief valve helped control aircraft fuel-line pressure at altitude, and its work also covered combustion chambers and fuel systems for early jet propulsion associated with Frank Whittle. After the war, the company broadened its engineering portfolio. It supported railway propulsion projects, including work on the Fell locomotive, and later investigated unusual applications such as a US Navy recycle-diesel power unit intended for operation at ocean depths. In 1970 the company was rebranded Ricardo Consulting Engineers. It subsequently investigated Stirling engines for automotive use on behalf of the US Department of Energy and supplied combustion-chamber expertise for engines used by Opel and General Motors. Ricardo also remained involved in chemical-emergency work through the National Chemical Emergency Centre, established in 1973. Ricardo's aerospace and vehicle work continued in the 1980s. In 1986 it redesigned the engine for the Rutan Voyager, which became the first aircraft to circumnavigate the world without refuelling. By 1990 its Shoreham facility contained more than ninety test beds, including rolling roads and anechoic chambers. These facilities supported development of petrol, diesel and gas engines ranging from small chainsaw units to large locomotive engines. Ricardo also developed an automatic layshaft transmission and later worked with Ferrari on an automatic version of the 456GT. The 1994 acquisition of FF Developments established a stronger foundation for four-wheel-drive and driveline engineering. In the twenty-first century, Ricardo combined conventional automotive engineering with low-carbon technology, defence, aerospace, rail, energy and environmental consulting. Its work included improvements to BMW motorcycle engines, the JCB Dieselmax record vehicle, a variable-cycle two-stroke/four-stroke engine developed with Denso, Jaguar Land Rover and the University of Brighton, and gearbox components supplied through collaboration with Xtrac for Formula One teams. McLaren Automotive selected Ricardo to develop its 3.8-litre twin-turbocharged V8, while Ricardo and Israel Aerospace Industries developed Taxibot, a remotely controlled aircraft-towing concept intended to reduce taxiing fuel consumption. Ricardo and Force Protection also developed the Foxhound protected vehicle for the UK Ministry of Defence. Diversification accelerated in the 2010s. Ricardo developed the TorqStor carbon-fibre flywheel energy-storage concept, acquired environmental consultancy activities from AEA Technology in 2012, and rebranded that business first as Ricardo-AEA and later as Ricardo Energy & Environment. It acquired Lloyd's Register Rail in 2015 and expanded into offshore-wind engineering, including support for large turbine gearboxes. By 2017 Ricardo operated across the UK, United States, China, Japan, Germany and the Czech Republic, with activities spanning engineering services, environmental consulting, software and niche manufacturing. In 2025 WSP Global agreed to acquire Ricardo; completion in October 2025 made Ricardo a WSP-owned business rather than an independent listed company.
- 2025
Acquired by WSP Global
[1]WSP Global completed its acquisition of Ricardo in October 2025.
- 2017
International engineering group reports broad diversification
[1]Ricardo reported turnover of approximately £330 million and nearly 3,000 employees across multiple countries and business areas.
- 2015
Lloyd's Register Rail acquired
[1]The £42.5 million acquisition expanded Ricardo's rail engineering and advisory services.
- 2012
AEA Technology activities acquired
[1]Ricardo acquired selected AEA Technology consultancy activities and created Ricardo-AEA.
- 2011
TorqStor flywheel energy storage developed
[1]Ricardo developed a carbon-fibre flywheel energy-storage system using magnetic coupling and gearing.
- 2009
McLaren selects Ricardo for V8 development
[1]McLaren Automotive selected Ricardo to develop the 3.8-litre twin-turbocharged V8 later known as the M838T.
- 2006
JCB Dieselmax sets diesel speed record
[1]The JCB Dieselmax, using Ricardo combustion-chamber technology, reached 350.092 miles per hour at Bonneville.
- 1994
FF Developments acquired
[1]The acquisition of FF Developments strengthened Ricardo's four-wheel-drive and driveline engineering capabilities.
- 1986
Rutan Voyager engine redesigned
[1]Ricardo redesigned the engine for the Rutan Voyager aircraft before its non-stop, non-refuelled circumnavigation.
- 1973
National Chemical Emergency Centre involvement begins
[1]Ricardo became involved in the National Chemical Emergency Centre from its creation.
Products and positioning
An independent-origin, technology-led engineering and consultancy partner for complex mobility, energy, environmental and industrial challenges, combining applied research, testing, product development and strategic advisory work.
Engineering service
Automotive powertrain engineering
Ricardo's core automotive offering covers the design, analysis, calibration, testing and validation of engines, hybrid systems and other powertrain technologies. Its historical work has included petrol, diesel, gas, motorcycle and high-performance engines, with an emphasis on combustion efficiency, emissions, durability and manufacturability. The company generally operates as an engineering partner to vehicle manufacturers and suppliers rather than as a mass-market component brand.
Vehicle systems
Driveline and transmission systems
Ricardo provides engineering for transmissions, gearboxes, four-wheel-drive systems, driveline controls and integrated vehicle powertrains. The business was strengthened by the acquisition of FF Developments in 1994. Ricardo has also participated in specialist and performance applications, including automatic-transmission development, Formula One gearbox-related work and gearbox production associated with high-performance road cars.
Environmental consultancy · 2012
Ricardo Energy & Environment
Ricardo Energy & Environment developed from the environmental consultancy activities acquired from AEA Technology in 2012. It provides analysis and advisory work relating to energy, emissions, environmental regulation, sustainability, climate policy and environmental risk. The unit extended Ricardo's business beyond vehicle engineering into public-sector, industrial and infrastructure consulting.
Transport engineering · 2015
Rail engineering and consultancy
Ricardo's rail activities include engineering, assurance, technical assessment and advisory services for rail systems and rolling stock. The capability was materially expanded through the acquisition of Lloyd's Register Rail in 2015, complementing the company's earlier experience with locomotive and railway propulsion projects.
Energy storage technology · 2011
TorqStor
TorqStor was a Ricardo-developed flywheel energy-storage concept using a carbon-fibre flywheel with magnetic coupling and a gearing system. It represented the company's interest in mechanical energy storage and efficiency technologies for transport and other applications.
Defence vehicle · 2010
Foxhound
Foxhound is a protected military vehicle developed by Ricardo and Force Protection. The UK Ministry of Defence selected it in 2010 as a replacement for the Snatch Land Rover, reflecting Ricardo's ability to apply automotive engineering, vehicle integration and protection requirements to defence programmes.
Brand decisions
2025
Accept WSP Global takeover offerM&ABackground
Ricardo's board evaluated a takeover proposal from Canadian consulting firm WSP Global.
Action taken
The board recommended shareholders accept an offer valued at approximately $670 million, and WSP completed the acquisition in October 2025.
Aftermath
Ricardo ceased to operate as an independently listed public company and became part of WSP Global while continuing as an engineering and consultancy brand.
Takeover offer value. $670 million approximately (2025)
2015
Acquire Lloyd's Register RailM&ABackground
Ricardo identified rail engineering and assurance as a way to diversify its transport-sector capabilities.
Action taken
The company acquired Lloyd's Register Rail for £42.5 million.
Aftermath
The transaction broadened Ricardo's rail consultancy and technical-services portfolio.
Acquisition price. £42.5 million transaction value (2015)
2012
Acquire selected AEA Technology consultancy activitiesM&ABackground
Ricardo sought to expand beyond automotive engineering into environmental and energy consulting while AEA Technology was undergoing financial distress.
Action taken
Ricardo agreed to acquire the relevant activities and staff for £18 million, integrating them under Ricardo-AEA and later Ricardo Energy & Environment.
Aftermath
The acquired business was reported as financially positive within a year and became a significant part of Ricardo's international environmental and energy offering.
Acquisition price. £18 million transaction value (2012)
Recent events
- Unconfirmed
Reported
Ford joins General Dynamics and Ricardo in joint venture bidding for UK Army Light Mobility Vehicle contract[3]
Ford is part of a joint venture with defence specialists General Dynamics and Ricardo bidding for a UK Ministry of Defence contract to supply 9,000 vehicles over the next five to seven years to replace the British Army's ageing Land Rover-based fleet under the Light Mobility Vehicle (LMV) programme. Ford is showcasing a camouflaged military pick-up based on its Ranger series, with three-litre diesel engines built at its Dagenham plant, as it hopes a pivot towards military vehicles can offset the challenged commercial car market. Jaguar Land Rover is also bidding for the same contract.
Reported
AFC Energy and Ricardo announce strategic collaboration[4]
AFC Energy announced that it had signed a strategic engineering collaboration agreement with Ricardo. The companies will jointly develop hydrogen fuel cell products and services, initially focusing on marine, rail, and stationary power generation.
Nexperia and Ricardo partner on GaN EV inverter demonstrator[5]
Nexperia announced a partnership with Ricardo to produce a technology demonstrator for an electric vehicle inverter based on gallium nitride technology.
Sources5 sources
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