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  • DCC expands LPG business in the US and Netherlands
    édité le 21/09/2020 - Plus de news de "DCC" - Voir la fiche entreprise de "DCC"


DCC expands LPG business in the US and Netherlands
DCC plc, the leading international sales, marketing and support services group, announces that DCC LPG has expanded its US LPG business through the acquisition of the NES Group and has also reached agreement with SHV Energy to acquire its Dutch LPG business, Primagaz Nederland B.V., subject to competition authority approval.

NES Group

NES Group markets, sells and delivers propane and other related products and services to residential and commercial customers in Connecticut, Rhode Island and Massachusetts. Headquartered in Brooklyn, Connecticut, the business employs approximately 70 people, has over 22,000 active customers and sells approximately 40,000 tonnes equivalent of product annually. NES Group is DCC LPG's first acquisition in the north east of the US and will provide a platform for further development in a region characterised by strong underlying demand for propane.

The acquisition of NES Group is DCC LPG's second material bolt-on acquisition in the US market, following the acquisition of Pacific Coast Energy in April 2019. DCC LPG now has operations across 14 states in the US and is well positioned to continue to grow and develop a significant LPG business in the large and fragmented US market.

Primagaz

DCC LPG recently agreed to acquire Primagaz from SHV Energy, subject to competition authority approval. The business is highly complementary to DCC LPG's existing business in the Benelux region. Primagaz, which focuses on the bulk and cylinder LPG markets, serves approximately 10,000 customers and supplies over 28,000 tonnes of LPG annually. The transaction is expected to complete during the fourth quarter of DCC's financial year ending 31 March 2021.

The combined enterprise value of the two transactions is approximately £60 million.

Commenting on the acquisitions, Donal Murphy, Chief Executive of DCC plc, said:

"I am pleased to announce two complementary acquisitions in our LPG division. NES Group provides DCC LPG with an entry point in the attractive New England region and clearly adds further scale to our growing US LPG business. The acquisition of Primagaz in the Netherlands will be an important addition to our European activities. These transactions, which were originated, diligenced and executed during a period of ongoing Covid-19 restrictions, demonstrate our ability to successfully build our business in an uncertain environment. The Group continues to have the platforms, opportunities and capability for further development across each of our four divisions."

About DCC plc

DCC is a leading international sales, marketing and support services group with a clear focus on performance and growth. It operates through four divisions: LPG, Retail & Oil, Technology and Healthcare.

DCC is an ambitious and entrepreneurial business operating in 20 countries, supplying products and services used by millions of people every day. Building strong routes to market, driving for results, focusing on cash conversion and generating superior sustainable returns on capital employed enable the Group to reinvest in its business, creating value for its stakeholders.

Headquartered in Dublin, employing approximately 13,000 people, DCC's four divisions are:

- DCC LPG - a leading LPG sales and marketing business with operations in Europe, the US and Asia and a developing business in the retailing of natural gas and electricity;
- DCC Retail & Oil - a leader in the sales, marketing and retailing of transport fuels, commercial fuels, heating oils and related products and services in Europe;
- DCC Technology - a leading route-to-market and supply chain partner for global technology brands and customers; and
- DCC Healthcare - a leading healthcare business, providing products and services to healthcare providers and health and beauty brand owners.

DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2020, DCC generated revenue of £14.8 billion and operating profit of £494.3 million.

DCC has an excellent record, delivering compound annual growth of 14.5% in operating profit and generating an average return on capital employed of approximately 19% over 26 years as a public company.

About DCC LPG

DCC LPG is a leading liquefied petroleum gas ("LPG") sales and marketing business and has a developing business in the retailing of natural gas and electricity. DCC LPG currently operates in ten countries in Europe, the US and Asia and has leading market positions in France, Britain, Ireland, Norway, Sweden and the Netherlands.


Origine : Communiqué DCC

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