What Hargreaves Services does

Hargreaves Services plc is a UK-headquartered, AIM-listed (LON: HSP) diversified environmental and industrial services group operating across three divisions: Services, Land, and European Raw Materials. The Services division delivers bulk earthworks through subsidiary Blackwell Earthmoving (65+ year heritage, contracted for 30km of HS2 earthworks), environmental and waste management services, bulk haulage (200+ vehicle fleet moving 4 million tonnes annually), mineral products, and industrial services to power generation and energy clients. The Land division manages a portfolio of over 11,000 acres for development, regeneration, and renewable energy use cases. The European Raw Materials division operates as a joint venture (HRMS) in Germany, supplying specialist raw materials to European industrial customers, with additional trading subsidiaries in Hong Kong, Malaysia, and South Africa.

The company generates revenue primarily through long-cycle enterprise contracts with major UK infrastructure programmes, acting as a specialist subcontractor to tier-1 contractors including Balfour Beatty (Lower Thames Crossing enabling earthworks), the EKFB joint venture (HS2 Aylesbury earthworks), and Arcadis (Sizewell C Marsh Harrier habitat scheme), as well as direct contracts with power generators such as Drax. Technology differentiation centres on 3D Machine Control Systems, ADT automation (trialed on the A14 with Highways England), and the first European Standard for Sustainable Earthworks (developed with Arup, recognised at the 2020 Ground Engineering Awards). Reported Group Revenue is £260m+ with a 1,300+ global headcount across 51 client sites.

In 2026 the company raised FY27 revenue guidance by 4% to £296.6m and underlying PBT guidance by 4% to £24.4m following new contract wins, launched a £20m tender offer to return capital to shareholders at 850 pence per share (approved April 2026), crystallised £6.8m from a second-tranche sale of renewable energy land to Meadow Partners, and received £10m from the Tungsten West transaction (£3m deferred consideration plus £7m mining services termination compensation). Largest shareholder is Harwood Capital at 27.52%.

Name

Hargreaves Services

Legal name

Hargreaves Services plc

Website

https://hsgplc.co.uk

Company type

Public

Founded year

1958

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hargreaves Services plc is a UK-listed (AIM: HSP) diversified environmental and industrial services group delivering earthworks, bulk logistics, mineral products, and land development for major UK infrastructure programmes including HS2, Sizewell C, and Lower Thames Crossing.

Ownership category

akta.pro rank

Product category

Environmental and Infrastructure Services

NAICS

Waste Management and Remediation Services (562), All Other Waste Management Services (56299)

SIC

Refuse Systems (4953)

akta.pro primary industry

Hauling, Spoil Management & Disposal (Muck Away) (IMAFAKAJ)

akta.pro secondary industry

C&D Waste Collection, Hauling & Container Services (Roll-off/Dumpsters) (EUAIAHAA)

Keywords

• Environmental and industrial services
• Bulk earthworks contracting
• Land remediation and regeneration
• Bulk haulage logistics
• Mineral products supply

Headquarters

HQ city

Esh

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Services Division: Provides environmental and industrial services including earthworks, bulk logistics, mineral products, and industrial services. Major infrastructure projects include HS2, Sizewell C, and Lower Thames Crossing. Performs well underpinned by robust activity.
2. Land Portfolio: Land development and disposal activities. Generated substantial profit from disposal of renewable energy land assets (14m in proceeds). Portfolio of 11,000+ acres for future development.
3. European Raw Materials: Joint venture with Hargreaves Raw Material Services (HRMS) in Germany. Provider of specialist raw materials to major European customers. Expected to report higher profits supported by stabilizing German economy.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Hargreaves Services plc is a diversified group delivering environmental, industrial, and infrastructure services across the UK, Europe, and Asia. Its Services division provides bulk earthworks (Blackwell Earthmoving), waste management and land remediation, bulk haulage logistics moving 4 million tonnes annually, mineral products and quarrying services, and industrial material handling. The Land division manages 11,000+ acres of development land, and European Raw Materials is a German joint venture supplying specialist raw materials to European customers.

Product overview

Hargreaves Services plc is a diversified environmental services and infrastructure group listed on AIM (LON: HSP), operating across three main divisions: Services, Land, and European Raw Materials. The Services division encompasses multiple operational units including Blackwell Earthmoving Limited (earthworks), Environmental Services (waste management and remediation), Bulk Logistics (haulage), Mineral Products and Services, Industrial Services, and operations in Asia and South Africa. The Land division manages over 11,000 acres of development land. The European Raw Materials joint venture (HRMS) operates in Germany. The company serves infrastructure markets including HS2, Sizewell C, and Lower Thames Crossing, with a workforce of 1,300+ employees and revenue exceeding £260m.

Differentiator

Problem solved

Functional benefit

Products and services

• Blackwell Earthmoving Limited Specialist earthworks contractor with over 70 years of experience, providing bulk earthworks, soil stabilisation, and land restoration for major infrastructure projects.
• Environmental Services Provides waste management, land remediation, carbon sequestration, forestry creation, land restoration, energy-from-waste services, and total waste management solutions.
• Hargreaves Bulk Logistics One of the UK's largest bulk hauliers operating a fleet of over 200 vehicles, moving over 4 million tonnes of materials annually including bulk tippers, walking floors, and clinical waste fleet.
• Mineral Products and Services Provides aggregate sales, geotechnical assessments, mining and quarrying services, specialist waste handling, and land restoration and aftercare.
• Hargreaves Industrial Services Offers material handling, project engineering, and industrial services including operations at Drax Power Station and other energy facilities.
• Hargreaves Asia Provides specialist repair and maintenance services for the power sector in Hong Kong and surrounding regions.
• Hargreaves South Africa Provides services to the metal and engineering industry in South Africa.
• Hargreaves Land Specialises in land development and regeneration, managing an extensive land portfolio of over 11,000 acres for future development.
• European Raw Materials Joint venture with Hargreaves Raw Material Services (HRMS) in Germany, providing specialist raw materials to major European customers.
• Loads of Stone (Aggregate Sales) Online aggregate sales platform for purchasing construction materials.
• S&B Utilities Specialist water division based near Knaresborough, providing utility services.

Quantifiable outcome

• 4 million tonnes of materials moved annually across the UK
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Meadow PartnersminorStrategic or Co-development Partner · 7 March 2026Purchased second tranche of renewable energy land portfolio for £6.8m. Sale includes land leased to battery energy storage system in Scotland with £500,000 annual rental income.
• Balfour BeattycoreStrategic or Co-development PartnerAppointed Hargreaves for enabling earthworks subcontract at Lower Thames Crossing. Balfour Beatty is the principal contractor for Roads North of the Thames package on behalf of National Highways.
• Power Minerals LimitedcoreStrategic or Co-development PartnerContract to build benefication plant at Drax Power Station to process 400,000 tonnes of legacy ash into supplementary cementitious material.
• EKFB JV (Eiffage, Kier, Ferrovial, BAM Nuttall)coreStrategic or Co-development PartnerHS2 joint venture appointed Blackwell Earthmoving for 30km of earthworks centred on Aylesbury, involving movement of nearly 15 million cubic meters of chalk and clay over four years. This is the largest contract in Blackwell's 65-year history.
• Forestry EnglandminorStrategic or Co-development PartnerPartnership for tree planting at Lower Thames Crossing Hole Farm site - 800 trees and shrubs planted with LTC and Balfour Beatty Enterprise Partners.
• ArcadisminorStrategic or Co-development PartnerAppointed as earthworks subcontractor for Marsh Harrier scheme - creating 5.4ha wetland habitat north of Sizewell C development site.
• FCC EnvironmentminorStrategic or Co-development PartnerPartnership on Eastern Green Link 2 power project.

Scale indicators16 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Costain Group: UK-listed infrastructure services group delivering highways, rail, and energy earthworks contracts, including work on HS2 and major road programmes. Closely comparable in business model (subcontracted infrastructure services to tier-1 contractors), customer base, and UK infrastructure exposure to Hargreaves.
• Kier Group: UK construction and infrastructure group with highways, utilities, and earthworks operations serving HS2, National Highways, and water utility clients. Comparable in scale, vertical exposure, and reliance on UK infrastructure spend cycles.
• Keller Group: Specialist geotechnical and ground engineering contractor operating across UK infrastructure, energy, and commercial projects. Comparable in specialist earthworks and ground engineering services, with similar reliance on UK infrastructure project pipeline.
• J. Murphy & Sons: UK infrastructure contractor with earthworks, utilities, and rail capabilities serving similar infrastructure customers (HS2, National Grid, water utilities). Close peer in business model and customer overlap with Hargreaves' earthworks and logistics services.
• Biffa plc: UK-listed waste management company providing collection, recycling, treatment, and disposal services. Comparable to Hargreaves' Hargreaves Environmental Services and Hargreaves Waste Management Services Limited subsidiaries in waste handling and environmental services.
• Renewi: European waste-to-product company with significant UK operations covering waste collection, recycling, and resource recovery. Comparable directly to Hargreaves' environmental and waste management offerings across commercial, industrial, and construction waste streams.
• FCC Environment: UK waste management company and confirmed Hargreaves business partner on the Eastern Green Link 2 power project. Directly comparable waste handling and recycling services, with active collaboration on major energy infrastructure projects.

Broad incumbents

• Balfour Beatty: One of the UK's largest infrastructure contractors and Hargreaves' largest customer via the Lower Thames Crossing principal contract on Roads North of the Thames. Overlaps with Hargreaves on earthworks and infrastructure services but at materially larger scale and broader portfolio.
• Morgan Sindall Group: UK construction and regeneration group with significant infrastructure, construction, and property development operations overlapping Hargreaves' Services and Land divisions. Larger and more diversified across residential and commercial construction.
• Veolia UK: UK arm of global environmental services giant offering waste management, water, and energy services. Overlaps with Hargreaves on energy-from-waste services, total waste management, and specialist waste handling, but at substantially larger scale and global reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

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Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hargreaves Services