Business support services company DCC has announced the purchase of Dutch-based PVO International, a solar and clean energy technology distributor.
PVO distributes solar panels, invertors, batteries and accessories which are used in the commercial, industrial and domestic energy sectors across continental Europe.
Set up in 2014, PVO holds a market-leading position in the Benelux countries, and growing positions in eight other European countries including Germany, Poland and Finland.
The company is headquartered in Rosmalen in the Netherlands, and employs about 50 people.
DCC said that PVO's existing management team will continue to lead the business, which generated revenue of about €190m in its most recent financial year.
DCC said that PVO is an excellent strategic fit for the Dublin-based company.
"It will leverage PVO's established market position in the fast-growing solar PV market and DCC Energy's knowledge and experience in transitioning customers to cleaner energy products and services including solar solutions," the company said.
Since DCC's results in May and including the acquisition of PVO, Protech and other smaller acquisitions, DCC said it has now committed about £80m in renewable energies and services businesses.
The deal is subject to competition authority approval in the Netherlands, Germany, Austria and Poland and is expected to complete by the end of the year.
Donal Murphy, chief executive of DCC, said a key part of DCC Energy's strategy in accelerating the net zero journey of its customers is to build a strong position in the sales, marketing and distribution of renewable energy products and services.
"We have already made good progress in recent years and PVO provides an excellent platform to build a pan-European business in the distribution of solar PV and associated products, such as energy storage and EV chargers," he added.
