UK arm of Swedish contractor buys highways services business

Consultant Atkins has signed an £18m deal to sell its highways services business to Skanska UK.

Atkins’ UK Highways Services business, which employs some 1,200 people, reported revenue of £80m in the six months to 30 September 2012.

The architect and engineer said that the deal would see £16m paid up-front, with a £2m payment to be deferred subject to the future performance of the business. The transaction is due to complete by 31 May 2013

Atkins chief executive officer,  Prof Dr Uwe Krueger, said the deal was a “step forward” in his strategy to “optimise our portfolio of businesses.” He said: “We wish to focus on growth sectors in engineering, design services and project management. We believe Skanska is a more appropriate owner for this business and will enable it to continue to flourish and grow.”