TIDMDCC
RNS Number : 9094A
DCC PLC
04 January 2018
4 January 2018
DCC LPG to expand further in Europe with acquisition of TEGA in
Germany
DCC plc, the leading international sales, marketing and support
services group, announces that DCC LPG has reached agreement with
Linde AG ("Linde") to acquire Tega-Technische Gase und Gasetechnik
GmbH, its LPG and refrigerant gas distribution business in Germany
("TEGA" or "the business").
The transaction is expected to complete before the end of DCC's
financial year ending 31 March 2018, following receipt of customary
regulatory consents.
TEGA, headquartered in Würzburg, employs approximately 100
people across five operating sites, largely in southern Germany.
Tega has revenue of c. EUR75 million evenly split between LPG and
refrigerants. The business supplies c. 35,000 tonnes of LPG
annually to c. 15,000 domestic and commercial customers. It also
supplies refrigerant gases to wholesalers and end-users for use in
air-conditioning, commercial cooling systems and refrigerators. The
business has operated on a standalone basis within The Linde Group
and will continue to be led, post-completion, by its existing,
highly experienced management team.
The consideration for the transaction will be payable in cash on
completion. Following the completion of the acquisition of TEGA and
based on acquisition activity to date, DCC will have spent
approximately GBP630 million on acquisitions in the financial year
ending 31 March 2018.
Donal Murphy, Chief Executive of DCC plc, said today:
"The acquisition of TEGA will provide DCC LPG with a platform in
the large, relatively fragmented German LPG market and further
strengthens its position in the LPG market in Europe. In addition,
the acquisition of TEGA provides an entry into the refrigerant gas
market further enhancing the service capability of our business,
following our expansion into medical and aerosol gases in recent
years. We very much look forward to welcoming the TEGA management
and employees into the DCC Group."
For Reference:
Donal Murphy, Chief Executive
Fergal O'Dwyer, Chief Financial Officer
Kevin Lucey, Head of Capital Markets
Telephone: +353 1 2799 400
Email: investorrelations@dcc.ie
Powerscourt (Media)
Lisa Kavanagh / Victoria Palmer-Moore
Telephone: +44 20 7250 1446
Email: DCC@powerscourtgroup.com
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, Healthcare
and Technology.
DCC is an ambitious and entrepreneurial business operating in 15
countries, supplying products and services used by millions of
people every day throughout Europe. 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 10,000 people,
DCC's four divisions are:
-- DCC LPG - a leading liquefied petroleum gas ("LPG") sales and
marketing business in Europe, with 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 and commercial fuels, heating oils and
related products and services in Europe;
-- DCC Healthcare - a leading healthcare business, providing
products and services to healthcare providers and health and beauty
brand owners; and
-- DCC Technology - a leading European sales, marketing and
services partner for global technology brands.
DCC plc is listed on the London Stock Exchange and is a
constituent of the FTSE 100. In its financial year ended 31 March
2017, DCC generated revenue of GBP12.3 billion and operating profit
of GBP345 million.
DCC has an excellent record, delivering compound annual growth
of 14% in operating profit and generating an average return on
capital employed of approximately 19% over 23 years as a public
company.
About DCC LPG
DCC LPG is a leading liquefied petroleum gas ("LPG") sales and
marketing business in Europe, with a developing business in the
retailing of natural gas and electricity. DCC LPG currently
operates in eight countries across Europe and Asia and has leading
market positions in France, Britain, Ireland, Norway, Sweden, the
Netherlands and Hong Kong & Macau. Following completion of the
acquisitions of TEGA and Retail West (announced on 7 November), DCC
LPG will also have substantial operations in the US and
Germany.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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