Labour supply specialist Hercules Site Services is to sell its suction excavator business to focus on core services.
The firm runs 30-strong fleet of trucks making it one of the largest providers of suction excavator services in the UK.
In last reported accounts the suction business delivered revenue of around £5m.
In a trading statement this morning Hercules chief executive Brusk Korkmaz said that a sale would materially reduce debt levels and increase the group’s free cash flow.
He said the suction excavator business amounted to less than 5% of group revenue, but 88% of its consolidated debt, excluding invoice discounting.
The proposed divestment would enable Hercules to dedicate greater resources on the continued high-growth opportunities in core labour supply for the rail sector and major projects like Sizewell C.
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