Costain has completed the acquisition of Simulation Systems Limited (SSL), a provider of technology-based solutions for the highways sector, in a deal worth £17 million.
SSL, established in 1979 and with 165 people, provides integrated hardware and software-based solutions across a broad spectrum of traffic monitoring and management requirements.
The company has an established blue-chip customer base including Highways England, Transport for London, the Scottish and Welsh governments and a number of English county and city councils. SSL’s senior management team, including Louis Thompson, managing director, will remain with the business.
SSL will be fully integrated into Costain’s infrastructure division in the current financial year and is expected to be earnings enhancing from 2017.
Andrew Wyllie CBE, chief executive of Costain, commented: “We are delighted to announce the acquisition of SSL which is in-line with our stated objective of accelerating the growth of business through a combination of organic and acquisitive growth.
“This transaction will further broaden our ability to deliver innovative technology-based solutions to meet the increasingly complex requirements of our major blue chip customers in energy, water and transportation.”