York-based TSP Project has been acquired by international mass transit, mobility and infrastructure company SYSTRA.
TSP was released from the British Steel portfolio last week and will become a wholly owned subsidiary of SYSTRA, doubling the French company’s presence in the UK.
It will be known as TSP Projects, a SYSTRA company.
The French giant boasts national and international experience in high speed rail, heavy rail, metro, light rail transit and transport consultancy.
A spokesperson said: “TSP Projects’ extensive experience in the UK heavy rail sector creates an opportunity for SYSTRA to become the UK leader in transportation solutions across all aspects of rail engineering, complex infrastructure and transport planning.
“TSP Projects’ expertise in civil engineering, electrification and track will expand and complement SYSTRA’s UK rail engineering services. Furthermore, the move sees SYSTRA commit to support TSP Projects’ other business sectors: energy from waste, security and construction.”
The investment marks a major milestone for the French company, creating an 800 strong combined workforce in the UK and providing TSP Projects with a permanent owner aligned with its core activity. With an annual turnover of £35million, TSP Projects employs over 400 people across five offices in the UK: York, Manchester, Birmingham, Reading and Bristol.