Hercules Site Services, a technology-enabled labour supply company for the UK infrastructure sector, announced that it has acquired 60% of Future Build Recruitment Ltd, a specialist UK-based white-collar recruitment company operating in the UK construction sector.
The price for the acquisition was for a total consideration of £1,251,000. Under the terms of the agreement, the vendors can sell their remaining 40% minority interest to Hercules between the 5th and 10th anniversary of completion, at a consideration based on a multiple of 5.5x the average EBITDA achieved by Future Build in the two years preceding the minority interest sale.
The transaction is the first acquisition in Hercules’ history, which will see Future Build integrating into Hercules’ Labour Supply division. It will also expand Hercules’ exposure to the white-collar and permanent recruitment market within the construction industry.
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.
