Business support services company DCC said today its Energy division has spent about €160m on five new acquisitions since it reported its full year results in May.
The company said the new deals support its strategy to build a leading energy management business and further expand its offering in the distribution of lower-carbon products.
The five companies are:
- Centreco, a market-leading Solar PV and energy consultancy business in the UK, which services commercial and industrial customers nationally
- Isolatiespecialist, a leading provider of energy efficiency and insulation services to domestic and commercial customers in the Netherlands
- Solcellekraft, one of Norway's largest Solar PV businesses, servicing commercial and domestic customers
- SLER40, a French Solar PV and heat pump business servicing domestic and commercial customers with design, installation, and maintenance services
- San Isabel Services Propane, a US propane distributor which services both domestic and commercial customers in Colorado.
DCC said the acquisitions are expected to deliver a mid-teen return on capital employed in their first full year of ownership.
DCC operates in a range of sectors including technology and healthcare, but its gas and fuel forecourt operations are the biggest part of its business.
The company is hosting a DCC Energy Insights Day, including a customer site visit, near Paris in France today.
Donal Murphy, chief executive of DCC, said it was an exciting time for DCC Energy as it showcases its energy strategy and provides detailed insight into the progress it was making.
"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," he said.
"The world’s need for cleaner energy presents a huge opportunity for DCC Energy and we are making it happen," he added.
