Hercules targets UK power sector with Advantage NRG acquisition

Proactive - Interviews for investors

Hercules PLC (LSE:HERC) CEO Brusk Korkmaz and CFO Paul Wheatcroft talked with Proactive's Stephen Gunnion about the company's strategic acquisition of Advantage NRG Ltd and its plans to support the UK's expanding power infrastructure. Korkmaz explained that the acquisition marks "a moment of real opportunity" as the UK prepares for a wave of infrastructure investment exceeding £725 billion over the next decade. The company is entering the power and energy sector in a meaningful way, responding to growing demand for skilled overhead linesmen to build thousands of kilometres of new transmission lines. Hercules recently completed the acquisition of Quality Transport Training Ltd, which, will strengthen the Hercules Academy’s training capabilities. Wheatcroft detailed the financial terms, noting an initial cash payment of £10.2 million, a deferred payment of £1.5 million, and an earnout potentially raising the total to £15.7 million. Wheatcroft said the acquisition is expected to be margin and earnings-enhancing. Korkmaz highlighted that Hercules achieved a record turnover of £54.6 million and EBIT of £2.6 million in the first half of the year, trading in line with market expectations. The company recently rebranded to Hercules PLC to reflect its focus on labour supply for UK construction and infrastructure. For more interviews and insights, visit Proactive's YouTube channel, give this video a like, subscribe, and turn on notifications to stay updated. #HerculesPLC #InfrastructureInvestment #AdvantageNRG #UKPowerGrid #EnergyTransition #ConstructionJobs #OverheadLinesmen #BusinessAcquisition #TrainingAcademy #ProactiveInvestors