Hercules Site Services plc recently raised £8 million through the sale of new shares. The funds were secured from two prominent entrepreneurs alongside institutional investors. The company plans to use this capital infusion to bolster its financial position and continue its growth trajectory.
Two of the new investors are Martin Tedham, owner and chairman of Swindon-based Wasdell Group, and Ged Mason, chief executive of Morson International, a rival recruitment firm. Additionally, a total of 6,060,606 ordinary shares were sold by Hercules Real Estate Limited to Wasdell Packaging Limited. This transaction reduced the shareholding of Hercules’ founder, Brusk Korkmaz, in the property arm to below 50%.
As part of these developments, Martin Tedham has been appointed to the board of Hercules. Commenting on the fundraising, Hercules’ chief executive Brusk Korkmaz expressed his excitement over securing investment from two accomplished entrepreneurs and institutional backers. The funds are intended to drive both organic growth and acquisitions, with the ultimate goal of boosting long-term profitability.
Korkmaz highlighted the positive outlook for the infrastructure and construction sector, suggesting that the improving macroeconomic environment presents significant opportunities. He emphasised that the company is now in a strong position to capitalise on these favourable trends. Korkmaz also welcomed the involvement of Martin Tedham on the board and Ged Mason as a significant investor, stating that their confidence in Hercules’ future prospects is a positive sign for the business.
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.
