The contract is worth up to £20m a year and starts this Spring.
The seven-year deal has a three-year optional extension period and will see Ringway manage, maintain and improve highways related assets and the authority’s street lighting.
Ringway will also advise on a £50m upgrade of the local network funded by Prudential Borrowing.
Jerry Pert, Ringway Regional Director, said: “This is a tremendous success for Ringway.
“A key issue for the council was to identify a partner with whom they could have the upmost confidence in managing a smooth transfer of services.
“Ringway has a long history of transferring public sector services to provide efficiencies and was able to demonstrate this to the council through the tender submission.
“We are now looking forward to working collaboratively with the council to deliver a first class maintenance service whilst we also support them as they embark on an ambitious investment programme.”