Hercules Site Services welcomes new investments boosting its growth potential.
- The company raises £8m through a strategic sale of new shares.
- Significant investors include Martin Tedham and Ged Mason, a market competitor.
- Funds are aimed at enhancing Hercules’ balance sheet for future growth.
- The construction sector’s positive outlook supports Hercules’ expansion plans.
Hercules Site Services, an AIM-listed construction labour supplier, has successfully raised £8 million through the strategic sale of new shares. This influx of capital is notably sourced from both entrepreneurs and institutional investors, reflecting a strong vote of confidence in the company’s potential for growth and stability.
Among the noteworthy new investors are Martin Tedham, owner and chairman of Swindon-based Wasdell Group, and Ged Mason, the chief executive of Morson International, a direct competitor in the recruitment sector. This move not only brings significant capital to Hercules but also strategic insight that could be invaluable as the company seeks to expand its footprint in the construction industry.
An aggregate of 6,060,606 Ordinary Shares were sold by Hercules Real Estate Limited to Wasdell Packaging Limited, effectively reducing the founder Brusk Korkmaz’s shareholding in the property arm to below the 50% threshold. This transaction is a pivotal step in diversifying the company’s shareholder base, fostering a more dynamic governance structure.
In line with these developments, Martin Tedham has been appointed to the board of Hercules, a decision that signals an intent to leverage his extensive experience and network within the industry. Hercules CEO, Brusk Korkmaz, expressed enthusiasm about the transaction, stating, ‘We are delighted to have raised these funds from two successful entrepreneurs and institutional investors…aiming to drive profitability in the long run.’
The recent investments align with Hercules’ broader strategy of capitalising on the burgeoning macro-economic environment, which is favourable for infrastructure and construction sectors. The company is poised to undertake both organic growth and acquisition-led expansion to harness these positive tailwinds.
These strategic investments position Hercules to maximise growth in a thriving construction sector.
