Costain, the UK engineering and construction group, has hired Close Brothers Corporate Finance as financial adviser, after years of being close to Deutsche Bank.

Costain has had a tumultuous few years. The company has a market capitalisation of about €137m ($133m), but once was valued at around €1.6bn. In the late 1990s the company underwent a restructuring, which Deutsche Bank advised on. Since then the German bank has been available to advise Costain, but the relationship lapsed a bit as little advice was needed after the restructuring.