Hercules has stepped up its push into the power and energy market with the acquisition of a 70% stake in Warrington-based Lyons Power Services.
The £702,800 deal, split equally between cash and Hercules shares, gives the labour supply specialist control of a key player in switchgear and substation commissioning across the UK and overseas.
Lyons Power Services will continue to be led by founder David Lyons, who retains a 30% stake under a partnership structure allowing for full buyout in up to ten years based on future earnings.
The deal follows Hercules’ June purchase of Advantage NRG, a supplier of overhead linesmen, and further strengthens its position in the fast-growing energy infrastructure market as National Grid embarks on a £58bn network upgrade programme.
Lyons Power Services generated £1.4m revenue and £0.29m pre-tax profit in the year to 31 January 2025. Clients include Siemens, SSE and other major DNOs.
Hercules CEO Brusk Korkmaz said: “This Acquisition strengthens our presence in the critical power and energy infrastructure sector, providing both diversification and long-term growth opportunities.
“LPS and its expertise in the booming power and energy sector will dovetail nicely with our previous acquisition, Advantage NRG.”
Lyons added: “Hercules’ scale and client relationships will allow us to accelerate our growth while continuing to deliver the high-quality services our clients expect.”
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