Cox Diesel Outboard Partner Sold to Canadian Consultancy
The British company that helped develop the Cox diesel engine has been sold to a Canadian firm.
Ricardo, the British engineering and environmental consultancy known for its role in developing the Cox outboard, has agreed to a £281m ($381,176,500 USD) takeover by Canadian company WSP Global.
Ricardo shareholders will receive 430 pence ($5.84 USD) per share in cash – a 28% premium on Ricardo’s share price prior to the announcement, and a 69% premium over its three-month average.
The Cox outboard, available in 300- and 350-hp models, has rapidly gained a foothold in markets worldwide as a relatively quiet, lightweight diesel alternative to gasoline outboards in this powerband.
Safer, More Fuel Efficient, Longer Lifespan
Better fuel economy and lower risk of explosion or fire are among the benefits of the outboards, and the builder claims their lifespan is likely to be about three times as long as comparable gas outboards.
The outboards include twin turbo-chargers to boost power and fuel efficiency, and Optimus electronic controls link to digital command in modern powerboats.
Cox has powered with Ring Power for widespread U.S. distribution of their outboards.
See our full BoatTEST on the water test and video-report on the advantages of diesel outboards here
WSP Global Inc. is a Montreal-based Canadian consulting firm offering engineering, environmental, and professional services worldwide. It reportedly oversees some 73,000 employees in about 500 offices worldwide.
WSP Global is reportedly one of the world’s largest professional services firms in engineering and consulting—rooted in Canada, it has grown exponentially through acquisitions and now serves a full range of sectors on a global scale.
Learn more at https://www.wsp.com/en-us.