LONDON: Hercules plc (AIM: HERC), a leading technology-enabled labour supply company for the UK infrastructure and construction sectors, announced the acquisition of the business and assets of Quality Transport Training Ltd (“QTT”).
QTT has a proven track record of supporting unemployed individuals into work through fully funded training programmes, often in partnership with local authorities, probation services, and employers. QTT also has a contract to run a number of skills bootcamps with the Department for Education, which will be transferred to Hercules.
The acquisition will increase the capacity of the Hercules Academy, based in Nuneaton in the West Midlands. The Academy was launched in January 2024 and has trained more than 1,500 individuals since opening. QTT’s employees will transfer to the Hercules Academy where they will help expand significantly the number of courses available and broaden the curriculum of the Academy.
The addition of the Quality Transport Training team and the integration of QTT’s assets means the Company will be able to scale its training operations more quickly to support the UK’s growing infrastructure project pipeline with a skilled, job-ready workforce. This is an important step as the Construction Industry Training Board projects that the UK will need nearly 225,000 additional construction workers by 2027.
The acquisition is Hercules’ second transaction, following the acquisition of Future Build Recruitment Ltd in November 2023, and is in line with Hercules’ targeted M&A strategy.
Brusk Korkmaz, Chief Executive Officer of Hercules, commented: “The Hercules Academy was established to address the well documented skills shortages facing the infrastructure and construction sectors.
“QTT’s expertise in vocational training will, in particular, add to the fantastic work already being done by the Academy team. This is another important step for Hercules to become one of the UK’s leading providers of skilled labour and training for the infrastructure and construction sectors.”