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The acquisition marks its entry into the UK\u2019s booming power and energy sector.<\/p>\n
Hercules gains a 155-strong team of skilled operatives, giving it a strong foothold in a market expected to surge as National Grid rolls out \u00a358bn worth of transmission upgrades.<\/p>\n
The initial deal is worth \u00a310.2m in cash, with a further \u00a31.5m deferred and an earn-out that could take the total price to \u00a315.7m depending on Advantage\u2019s performance through February 2026.<\/p>\n
In its last financial year to February 2025, Chorley-based Advantage NRG posted \u00a31.7m pre-tax profit on \u00a311m turnover.<\/p>\n
Hercules is funding the buyout through a mix of internal cash and a new \u00a36m loan from Wasdell Holdings \u2013 a company controlled by non-exec director and major Hercules shareholder Martin Tedham.<\/p>\n
CEO Brusk Korkmaz said: \u201cThe acquisition of Advantage NRG marks another important milestone in Hercules\u2019 growth journey.<\/p>\n
\u201cAdvantage NRG\u2019s deep expertise in overhead electrical transmission, and its ability to source, train and mobilise specialist linesmen, both in the UK and internationally, perfectly complements our strategy.<\/span><\/p>\n \u201cWe believe this strategic investment will enable Hercules, the Hercules Academy and Advantage NRG to grow together and play a pivotal role in supporting the delivery of the UK\u2019s essential energy infrastructure.\u201d<\/span><\/p>\n The deal is Hercules\u2019 third acquisition, following Future Build Recruitment in 2023 and training specialist QTT earlier this month.<\/p>\n<\/p><\/div>\n