DCC Energy makes five acquisitions to support lower-carbon strategy
Thu, 07 Sep 2023 | BUSINESS SALE
DCC Energy, the energy division of business support services firm DCC, has made five acquisitions since reporting its full-year results in May 2023. The deals, which include a solar firm based in Lancashire, form part of DCC's strategy of expanding its offering of lower-carbon products and building a leading energy management business.
The firm says that it has spent around €160 million (£137.2 million) on the acquisitions, which have expanded the Irish-headquartered group’s energy presence across the UK, as well as in mainland Europe and the USA.
In the UK, the firm has acquired Centreco, a Chorley-based business that was founded in 2014 and provides solar PV and energy consultancy services across the UK, to customers including commercial and industrial businesses.
In the EU, DCC has acquired Isolatiespecialist, a Netherlands-based provider of energy efficiency and insulation services to domestic and commercial customers, leading Norwegian solar PV firm Solcellekraft and French Solar PV and heat pump firm SLER40, which provides design, installation and maintenance services for domestic and commercial customers.
In the USA, meanwhile, the company has acquired propane distributor San Isabel Services Propane, which serves domestic and commercial customers in Colorado.
DCC said that the acquisitions were expected to deliver a mid-teen return on their capital outlay within the first full year of ownership. DCC Chief Executive Donal Murphy said that the deals demonstrated DCC Energy’s strategy and progress.
He commented: "As set out in May 2023, DCC Energy plans to double its adjusted operating profit by 2030 and our strategy will significantly reduce our customers’ carbon emissions. The world’s need for cleaner energy presents a huge opportunity for DCC Energy and we are making it happen.”
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