DCC sells Healthcare arm for €1.22bn
The London-listed, Dublin headquartered, business will sell the business to HealthCo Investment - a subsidiary of European investment firm Investindustrial Advisors.
The intended disposal had been flagged by DCC in December, when the business proposed a major strategic shift including plans to sell its DCC Healthcare arm within months and to review strategic options for DCC Technology within the next 24 months.
The proposed changes will see the group focus purely on the energy sector, which already accounted for around 75pc of the business.
The plan is to return a share from the proceeds of the disposals to investors as well as to invest in the future energy business.
After confirming the Healthcare business disposal DCC said it will be a material step in the strategy to: 'simplify operations, maximise shareholder value and accelerate the growth of its energy business, the group's largest and highest returning division."
DCC's CEO Donal Murphy, said: "Our strategy will continue to build DCC as a market-leading multi-energy business.
"The profitable sale creates immediate value for our shareholders, and we are confident that Investindustrial will take DCC Healthcare forward in the best long-term interests of its employees, customers and suppliers."
The deal is expected to close in the third quarter of 2025.
DCC posted sales of £20bn (€24bn) in the 12 months to the end of March last year, and a £683m adjusted operating profit.
The healthcare business generated revenue of £859m in the same year and underlying earnings of £88.1m
ADVERTISEMENT
DCC Healthcare has more than 3,000 employees and operates globally through 11 manufacturing sites and distribution and commercial centres.
It has expanded organically as well as through 30 acquisitions since 2006.
Andrea Bonomi, chairman of Investindustrial's advisory board, said: "We are excited about the acquired businesses' growth potential and look forward to working with their management teams and employees in the next phase of their growth."
DCC expects net cash proceeds of c.£945m from the sale, including an unconditional deferred amount of £130m. receivable within two years.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Irish Sun
5 hours ago
- The Irish Sun
Iconic hot hatchback with four-wheel drive FINALLY coming to UK after being sold for years outside of Europe
A HUGE Japanese car firm has hinted that it is finally bringing its rally-bred hot hatch to the UK. The long anticipated 4 The new GR Corolla boasts a turbocharged 1.6 litre engine Credit: Toyota USA 4 A four-wheel drive system ensures every bit of power is used effectively Credit: Carsite With an impressive 296bhp the Corolla will enter production at Toyota's UK plant in The motor is expected to go into production next year in a bid to satisfy lengthy waiting lists. However at present the nippy hot hatch is only built at one site in Japan with it yet to be confirmed for the Toyota's European COO Matt Harrison has hinted that British fans won't be disappointed though. Read more in Motors He spoke to 'The gap between supply and demand is now, so it's about how quickly we can get it. We need to act fast.' Originally launched in 2022 the It boasts a minimal 1.6 litre engine but a turbo charger offers the car a healthy boost in power. Most read in Motors With its impressive 296bhp Toyota's answer to the And the Toyota uses its power well, a four-wheel drive system ensures the motor uses the most of the horsepower available to it. The souped-up Toyota Corolla GR Full specs and pricing for the new Corolla are expected to be released some time next year. Until then experts are estimating the The Burnaston site was chosen as a site for manufacturing the Initial demand for the motor is expected to be relatively high and the UK site can offer the capacity to meet the demand. 4 The motor is only available in selected global markets but could soon come to the UK Credit: Toyota USA 4 The GR Corolla has been hotly anticipated Credit: Toyota USA Not only this but the UK The rally bred motor offers a specific package of specifications to motorists. It was reported earlier this year that the The investment could see production rates at the site significantly boosted to meet the expected demand for the new World's largest car maker hatching plans to invest £40million in a new assembly line in UK The world's largest car maker is planning to invest a whopping £40million for a The Toyota plant at could be in line for a major investment, as the company weighs moving production for the US market from Japan to . The car maker plans to invest around £41million to set up a new production line dedicated to making GR Corollas, according to Reuters. Toyota has denied that Trump tariffs are behind the potential shift, despite taxes on Britain being 10 per cent compared to Japan's 25 per cent. In light of the potential move, Japanese automaker Toyota revealed that new cars could be added to the European market. Currently, the GR Corolla is only available in Japan and is exported to North America and select other markets. Burnaston plant currently produces the Corolla hatchback and estate for the UK and European markets, but production rates could significantly improve with the proposed investment. A new production line could be operational within 12 months, with reports suggesting that Japanese engineers may temporarily relocate to Derbyshire to assist with the transition.
Irish Examiner
5 hours ago
- Irish Examiner
Cork-based services company Org Group acquires Brussels-based firm
Cork-based services firm Org Group has announced it has acquired Brussels-based European workforce solutions firm Enterprise Digital Resources (EDR). Org Group said the acquisition strengthened and expanded its access to a 'network of high-skilled consultants at a time when businesses are accelerating digital transformation and facing heightened talent demands'. Financial details of the acquisition have not been disclosed. EDR provides specialised tech staff to clients in countries across Europe including France, Belgium, UK, and Ireland. It focuses on areas such as enterprise resource planning, human capital management, enterprise performance management, as well as customer relationship management. Org Group chief executive Seb O'Connell said EDR's deep domain expertise was a 'natural fit for Org Group'. 'This complements our capacity to deliver impactful digital and organisational transformation through the right mix of strategy, systems, and people.' Org Group is the holding company for Irish-owned recruitment firm Morgan McKinley, business process services company Abtran, and advisory firm Org. The group employs 3,000 people in 10 countries. EDR director James Parker said Org Group 'shares our belief that skills and talent are the engine behind successful transformation'. 'Joining the group enables us to scale our impact and support more organisations in navigating the future of enterprise technology.' Last month, the company also acquired global technology recruiting business Venturi. Venturi is headquartered in Manchester, with offices in New York, USA and Düsseldorf, Germany. Its clients include Red Kite, Bet 365, and Money Supermarket. The company has annual revenues of about £40m (€47.5m).
Irish Post
6 hours ago
- Irish Post
Ireland joins Europe's coal-free nations with closure of Clare plant
THIS week Ireland became the 15th country in Europe to give up all coal production. Moneypoint power station in County Clare, the nation's last operational coal plant, officially closed its doors after 40 years on June 20th. Operated by the Electricity Supply Board (ESB), Moneypoint was originally built to provide a stable energy supply in the wake of the global oil crisis of the 70s. The closure of the plant cements Ireland's turn towards renewable energy, especially wind power. Energy think tank Ember estimates that in 2025 wind will generate nearly 40% of Ireland's total 11 terawatt-hour (TWh) electricity. Solar energy currently contributes less (0.97 TWh last year), but it has been consistently surpassing production targets in recent years. Although Moneypoint has exited the wholesale electricity market, it will maintain a limited backup role until 2029. EirGrid, Ireland's national grid operator, can call upon the facility to burn heavy fuel oil under emergency directives. This limited reserve function aligns with existing plans by ESB and EirGrid to phase out coal-fired generation by the end of 2025. "Ireland has quietly rewritten its energy story by replacing polluting coal with homegrown renewable energy," said Alexandru Mustață, a coal and gas campaigner with Beyond Fossil Fuels, a European climate advocacy group. Environmental advocates stress that the transition isn't complete. Jerry Mac Evilly, Campaigns Director at Friends of the Earth Ireland, urged the government to limit and eventually retire Moneypoint's oil-based backup role. He also called for stronger policies to curb the expansion of energy-intensive data centres, which, he argued, are increasing Ireland's dependence on fossil fuels. The closure of Moneypoint marks a major milestone in Ireland's clean energy journey. According to Beyond Fossil Fuels, 23 European countries have committed to phasing out coal. Italy and Spain are expected to declare their mainland regions coal-free later this summer. See More: Co Clare, Coal, ESB, EirGrid, Moneypoint, Sustainability
