Hercules Sells Suction Excavator Division in Strategic Move

Hercules Site Services plc, a prominent player in the UK infrastructure and construction sectors, has strategically divested its suction excavator division to SNC Holdings (NW) Limited for a sum of £2.4 million. The sale is poised to reduce Hercules' debt and lease liabilities by approximately £9 million, thus strengthening its financial position substantially. Hill Dickinson, a leading commercial law firm, played a pivotal role in this transaction, advising Hercules throughout the process. The disposal of the suction excavator business, which was responsible for a significant portion of the company’s borrowings but a minimal share of its revenue, aligns with Hercules’ strategy to enhance its balance sheet and pursue growth opportunities in its core labour supply business. The transaction supports Hercules' acquisition strategy, allowing it to focus on expanding its influence within the UK's rapidly growing sectors such as nuclear, power, and rail sectors. This move is seen as making Hercules more attractive to investors as it tidies up its balance sheet and positions it for future growth.