Costain has acquired of SSL, a provider of technology-based solutions, primarily for the highways sector, for £17 million.

SSL provides integrated hardware and software-based solutions across a broad spectrum of traffic monitoring and management requirements. SSL 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.

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In the year ended 31 March 2015, SSL generated revenues of £15.1 million and EBITDA of £2.0 million.

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."

(CD)