The firm runs a 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.