Riding the wave of major UK infrastructure investment, Hercules Site Services is rapidly scaling with high-value contracts, strong financials, and a strategic focus on future-proofing its workforce.
Delivering skilled operatives to landmark infrastructure projects such as HS2 and the Sizewell C nuclear power plant has propelled Hercules Site Services into a period of sustained and impressive growth. The company, based in Gloucestershire, continues to outperform expectations, with annual revenue climbing by an average of 48% since its debut on the London Stock Exchange’s AIM market three years ago, according to chairman Henry Pitman at its recent AGM.
Hercules’ strong upward trajectory has been driven by mounting demand for its specialist labour services across the UK’s largest construction schemes. The business counts heavyweights like Costain, Kier, and Balfour Beatty among its client base, and its strategic execution has consistently delivered results. A standout contributor has been its multi-year agreement to supply labour to HS2 Phase 1’s northern section—one of Europe’s most expansive infrastructure undertakings—where, at peak, 550 operatives were deployed on-site.
Looking ahead, Hercules is positioning itself for long-term involvement in the Sizewell C nuclear project by opening a local office near Ipswich, anticipating extensive work over the coming years. The firm also has an eye on potential opportunities at the Wylfa nuclear site in Wales, recently acquired by the Government.
In a move that strengthens both its pipeline and reputation, Hercules launched a dedicated construction academy in Nuneaton, Warwickshire. Strategically located near HS2 activity, the academy has already trained over 1,100 individuals, underlining the firm’s commitment to workforce development and long-term client partnerships.
Record operational performance was highlighted at the AGM, with the labour supply division achieving a 35% increase in the average number of deployed operatives. The firm supported over 40 clients across 300 project sites, resulting in a 28% revenue rise and a 34% uplift in adjusted EBITDA. These figures are especially notable against the backdrop of ongoing economic headwinds in the UK.
A significant milestone in 2024 was the acquisition of Future Build Recruitment, a London and Brighton-based company. This strategic move expands Hercules’ reach in the construction talent space, particularly in white-collar and permanent recruitment—complementing its existing strength in blue-collar labour for infrastructure projects.
With the Construction Industry Training Board forecasting a need for nearly 225,000 additional construction workers by 2027, Hercules is well-placed to capitalise. Its Nuneaton academy is expected to become a key revenue driver as training and upskilling become ever more essential across the sector.
Further financial optimisation came with the sale of its Suction Excavator business in January. This not only lowered debt and lease obligations but also improved profitability metrics—boosting free cash flow, pre-tax profit, and earnings per share. The divestment sharpens the company’s focus on its high-performing core labour supply services.
Additionally, the successful £8 million fundraise completed in September gives Hercules the firepower to seize organic and acquisitive growth opportunities in a market that continues to evolve.
Hercules Site Services plc (LON:HERC) is a collaborative, innovative company delivering services of the highest standards within the Civil Engineering sector of the construction industry. Hercules Construction Academy provides a comprehensive range of courses designed to equip individuals with the essential skills and knowledge required for a long and successful career in the construction industry.
