Proteus Enterprises and Gladstone Investment completed the acquisition of the defense business of Ricardo for $85m.

Investment firms Proteus Enterprises and Gladstone Investment completed the acquisition of the defense business of Ricardo, a global strategic, environmental and engineering consultancy, for $85m. "The Disposal forms part of the Group's stated strategy to optimise our portfolio, as it repositions itself for long-term and sustainable growth in environmental and energy transition solutions. Ricardo Defense has an established and successful history in delivering integrated vehicle engineering solutions for the US Army, and as a Group, we are privileged to have played a role in its success. We are confident, that under a different ownership, this business will continue to grow and prosper," Graham Ritchie, Ricardo CEO.