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Costain has acquired the 550-strong professional services consultancy Rhead Group for 拢36m.

The firm, which works in infrastructure, construction and asset management programmes in the UK, includes clients such as the National Grid, BAE systems and Wales & West Utilities. It offers programme and commercial management services.

Rhead Group will be fully integrated into Costain and will form part of the Natural Resources division. In the year ended 31 July 2014 the firm generated revenues of 拢63.5 million and EBITDA of 拢5.2 million.

Andrew Wyllie CBE, Chief Executive of Costain, commented: 鈥淲e are delighted to announce the acquisition of Rhead Group which has a well-established reputation for its collaborative approach, focus on innovation and service delivery excellence.

鈥淭his transaction accelerates the development of Costain and further broadens our range of capabilities to meet the requirements of major blue chip customers, providing greater ability to deliver integrated solutions across the full lifecycle of a project.鈥�

The Rhead Group acquisition has been funded from Costain鈥檚 existing cash and debt facilities. The firm鈥檚 senior management team including CEO Nigel Curry will remain with the business.