Hercules has acquired Lyons Power Services, a labour supply specialist in the power sector, for £702,800.
The deal, split equally between cash and Hercules shares, gives the company control of a key player in switchgear and substation commissioning across the UK and overseas.
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.
Lyons Power Services generated £1.4m revenue and £0.29m pre-tax profit in the year to 31 January 2025, with clients including Siemens, SSE and other major DNOs.
Hercules' expansion comes as National Grid embarks on a £58bn network upgrade programme.
Author's summary: Hercules buys Lyons Power Services for £702,800.