Labour supplier Hercules has completed its second deal in the fast-growing power and energy sector in four months with the acquisition of a majority stake in a UK and overseas infrastructure business.<\/p>\n
The Gloucestershire-headquartered\u00a0group has bought the 70% stake in Warrington-based Lyons Power Services (LPS) for \u00a3702,800, paying half in cash and half in ordinary shares.<\/p>\n
The remaining 30% shareholding in LPS will continue to be held by the existing owner-manage,, who will remain actively involved in driving its future growth.<\/p>\n
Hercules said the move aligned with its growth strategy by expanding its service offering into complementary and high-growth infrastructure sectors.<\/p>\n
It follows the acquisition of Chorley-based overhead linesmen supplier\u00a0Advantage NRG for up to \u00a315.7m in June, which took Hercules into the power and energy sector\u00a0for the first time.<\/p>\n
The LRG acquisition is the fourth in total for Hercules, which has been riding a wave of infrastructure investment across the UK.<\/p>\n
The group, which has its headquarters in South Cerney, near Cirencester, said the move would bolster its national footprint and widen its already strong client base in the energy and power sectors.<\/p>\n
Hercules said the UK was embarking on a major upgrade of its electrical infrastructure to meet rising energy demand, with National Grid investing \u00a358bn on extending and modernising the country’s transmission and distribution networks to deliver sustainable and reliable power.<\/p>\n
As a result, it expects demand for skilled operatives, particularly overhead linesmen, to increase substantially.<\/p>\n
Brusk Korkmaz, CEO of Hercules, added:\u00a0“This acquisition strengthens our presence in the critical power and energy infrastructure sector, providing both diversification and long-term growth opportunities.<\/p>\n
“LPS and its expertise in the booming power and energy sector will dovetail nicely with our previous acquisition, Advantage NRG.<\/p>\n
\u201cThe partnership structure ensures that we retain the entrepreneurial drive of the LPS management team, while leveraging Hercules’ resources to scale the business further.”<\/p>\n
David Lyons, managing director of Lyons Power Services, said Hercules’ scale, reputation, and client relationships would allow the firm to accelerate its growth while continuing to deliver the high-quality services.<\/p>\n
\u201cWe believe our vision for the future is aligned with that of the Hercules management team at what is an exciting time for the infrastructure sector,” he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Second deal in four months aligns with group’s growth strategy and bolsters its national footprint<\/p>\n","protected":false},"author":272345,"featured_media":2161033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362,128805,127684],"coauthors":[137101],"class_list":["post-2161032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-infrastructure","category-recruitment","tag-cheshire-and-warrington","tag-featured-story","tag-gloucestershire"],"yoast_head":"\n