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(Sharecast News) - Labour supply company Hercules has acquired the business and assets of Quality Transport Training for an undisclosed sum.
Hercules said on Thursday that the acquisition will increase the capacity of the Hercules Academy, based in the West Midlands.
QTT supports unemployed individuals into work through fully funded training programmes, often in partnership with local authorities, probation services, and employers. It also has a contract to run a number of skills bootcamps with the Department for Education, which will be transferred to Hercules.
The AIM-listed group stated QTT's employees will transfer to the Hercules Academy, where they will help expand "significantly" the number of courses available and broaden the curriculum of the Academy.
Chief executive Brusk Korkmaz said: "The Hercules Academy was established to address the well-documented skills shortages facing the infrastructure and construction sectors.
"QTT's expertise in vocational training will, in particular, add to the fantastic work already being done by the Academy team. This is another important step for Hercules to become one of the UK's leading providers of skilled labour and training for the infrastructure and construction sectors."
As of 1010 BST, Hercules shares were down 0.98% at 46.04p.
Reporting by Iain Gilbert at Sharecast.com
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