LONDON: Hercules plc (AIM: HERC), a UK-based provider of technology-driven labor solutions for the infrastructure and construction sectors, has acquired Advantage NRG Ltd in a deal valued at up to £15.7 million. The acquisition signals Hercules’ strategic entry into the power and energy sector amid a nationwide overhaul of electricity networks.
The initial purchase price is £10.2 million in cash, with an additional deferred payment of around £1.5 million and a one-year earn-out that could bring the total to £15.7 million. The acquisition is being financed through internal reserves and a £6 million loan from Wasdell Holdings Ltd, controlled by Hercules board member and shareholder Martin Tedham.
Advantage NRG, based in Chorley, Lancashire, supplies skilled overhead linesmen for transmission line construction and maintenance. In the year ended Feb. 28, 2025, the company reported £11.1 million in revenue and £1.7 million in pre-tax profit. It currently employs approximately 155 operatives.
Hercules CEO Brusk Korkmaz said the acquisition positions the company to capitalize on Britain’s increasing demand for skilled labor in electricity infrastructure. “Advantage NRG’s expertise and training capacity align perfectly with our growth strategy,” Korkmaz said. “We are proud to support the UK’s transition to a net-zero future.”
The UK government has outlined £58 billion in grid investments through 2035 to handle a projected 64% rise in electricity demand, including new transmission routes and offshore connections. Industry analysts expect a surge in demand for overhead linesmen and other skilled workers.
This transaction marks Hercules’ third acquisition in recent years, following the purchases of Future Build Recruitment in 2023 and Quality Transport Training Ltd in June 2025. The Advantage NRG deal will also enhance Hercules Academy’s training capabilities and unlock cross-sector synergies.
The related-party loan from Wasdell Holdings constitutes a related-party transaction under AIM Rules. Hercules’ independent directors, advised by SP Angel Corporate Finance LLP, determined the loan terms are fair and reasonable.