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Costain buys smart highways business for £17M

Smart motorway

Costain has bought smart highways technology firm Simulation Systems Limited (SSL) for £17M.

SSL primarily provides technology design, manufacture and installation for the highways sector, supporting traffic monitoring and management. Its clients include Highways England, Transport for London and a broad spectrum of local government, as well as the Welsh and Scottish governments.

Bristol-based SSL will be integrated into Costain’s infrastructure division. SSL currently has 165 members of staff.

Costain chief executive Andrew Wyllie said: “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.”

Costain said it has no plans to change SSL’s senior management team, including managing director Louis Thompson.

SSL had revenue of £15M and earnings before tax and other expenses of £2M in the financial year to March 2015.

 

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