The suction excavator business of Hercules Site Services plc (“Hercules”) has been acquired by SNC Holdings (NW) Limited(“SNC”) in a deal led and advised by a team from Transcend Corporate Limited.
Hercules’ suction excavator business operates a fleet of 28 specialist suction excavators from its base near Cirencester. Suction excavators offer an incredibly safe, precise, and non-invasive method for excavating in congested or sensitive areas, minimising the risk of damage to essential infrastructure. Hercules’ clients include Galliford Try, Balfour Beatty and a number of utility companies.
Hercules, a provider of labour supply services to the construction sector, identified their suction excavator business as non-core to their principal activities and Transcend Corporate were appointed to conduct a full sale process.
SNC operates the largest UK fleet of suction excavators under their brands Pier (UK), Safe Excavation, Central Southern Excavations Ltd, and Galvac. The acquisition of Hercules’ suction excavator business cements their position as the market leader in this growing sub-sector of specialist plant hire.
A team at Transcend Corporate, led by Steve Bartlett, was appointed by Hercules to support the deal. Transcend marketed the business to a targeted audience of potential buyers, subsequently managing negotiations and securing a positive outcome for both parties.
Steve Bartlett, Partner at Transcend said:
“We identified SNC as a strategic buyer for the Hercules suction excavator business. I am delighted to have been able to advise Hercules and to bring this deal to a successful conclusion. SNC are a great buyer for this business and this deal will enable them to consolidate their market leading position and continue with their impressive growth.”
Brusk Korkmaz, CEO of Hercules, said:
“Having successfully built the suction excavator business, the board of Hercules Site Services plc decided that focusing on the core labour supply business was in the best interests of shareholders. Having made the decision to sell the suction excavator business we appointed Transcend Corporate to help identify the best buyer and to manage the sale process. We would like to thank Steve and the team at Transcend for their hard work in bringing this deal to a successful conclusion. Steve’s advice, support and tenacious approach secured the best outcome for us.”
Sean Quinn, MD of SNC said:
“We are delighted with the acquisition of Hercules’ suction excavator business. This is an important step in our strategy of building the largest and best fleet of specialist suction excavators in the market. As part of the integration into SNC, Hercules suction excavators will join a group with over 140 excavators and 250 directly employed staff, positioning us as a leading force in the industry. We are convinced that the advantages of using suction excavators will lead to continued demand for this specialist service”
Legal advice to Hercules Site Services plc was provided by Hill Dickinson (Jonathan Morris, Danielle Higgins).
