DCC spends £60m on US, Dutch acquisitions
Energy and services group DCC said it had expanded its liquefied petroleum gas interests with two acquisitions worth £60m.
The company bought US-based NES Group, which markets, sells and delivers propane and other products and services to residential and commercial customers and Primagaz in the Netherlands, a deal which is subject to competition authority approval.
NES employs about 70 staff and has more than 22,000 active customers, while Primagaz serves about 10,000 customers.
“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,” said DCC chief executive Donal Murphy.