Latest news with #AndreaBonomi
Daily Mail
22-04-2025
- Business
- Daily Mail
DCC to sell healthcare unit for £1.1bn to focus on its energy business
DCC has struck a deal to sell its healthcare arm as part of the FTSE 100 group's plans to concentrate on its energy business. The business support services firm agreed to sell the healthcare division for £1.1billion to HealthCo Investment, a subsidiary of European private equity firm Investindustrial Advisors. It anticipates receiving around £945million in net cash proceeds from the disposal, including deferred payments of £130million within two years. DCC's healthcare segment makes medical devices for hospitals, community health providers, and retail pharmacies, as well as beauty products and nutritional supplements like gummies. It has over 3,000 staff members and functions globally through 11 manufacturing sites, including five in Britain, and distribution and commercial centres. DCC plans to return surplus cash to shareholders upon completion of the deal, which is expected to happen in the third quarter of this year. The Dublin-based group announced plans to break up its business last November to focus on its energy segment, which provided nearly three-quarters of its adjusted operating profits in the 2024 financial year. By comparison, the healthcare division was responsible for just £88.1million of the company's £682.8million operating profits. Donal Murphy, chief executive of DCC, said: 'The disposal of DCC Healthcare is a material step in simplifying DCC's operations and focusing on our high growth, high return, 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.' In May 2022, DCC declared a new goal to double the energy division's operating profits by 2030 while also reducing its customers' carbon emissions. Six months ago, it claimed that 35 per cent of DCC Energy's profits originated from renewable products and services, while 42 per cent came from lower-carbon liquid gas. 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.' Founded in 1990, InvestIndustrial owns the British furniture brand OKA and classic sports car producer Morgan Motor Company. DCC shares fell 2.9 per cent to £48.36 on Tuesday morning, meaning they have shrunk by approximately 12 per cent over the past year.
Irish Independent
22-04-2025
- Business
- Irish Independent
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.
Yahoo
22-04-2025
- Business
- Yahoo
DCC agrees £1.1bn deal to sell healthcare arm
Business support services group DCC has agreed the sale of its healthcare arm in a deal valuing the division at more than £1 billion. London-listed DCC, which has its headquarters in Dublin, is set to sell the business to HealthCo Investment – a subsidiary of Investindustrial Advisors – for £1.05 billion as part of efforts to focus on its energy business. DCC said: 'The proposed transaction is a material step in the group's strategy to simplify operations, maximise shareholder value and accelerate the growth of its energy business, the group's largest and highest returning division.' The healthcare business delivered £859.4 million of revenues in the year to March 31 2024 and underlying earnings of £88.1 million – representing around 13% of the group's overall adjusted operating profit. Donal Murphy, chief executive of DCC, 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.' DCC expects the deal to complete in the third quarter of 2025. FTSE 100 firm DCC made total revenues of £19.9 billion in the year to March last year. It announced plans last November to sell the healthcare arm, following a strategic review. 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.'
The Independent
22-04-2025
- Business
- The Independent
DCC agrees £1.1bn deal to sell healthcare arm
Business support services group DCC has agreed the sale of its healthcare arm in a deal valuing the division at more than £1 billion. London-listed DCC, which has its headquarters in Dublin, is set to sell the business to HealthCo Investment – a subsidiary of Investindustrial Advisors – for £1.05 billion as part of efforts to focus on its energy business. DCC said: 'The proposed transaction is a material step in the group's strategy to simplify operations, maximise shareholder value and accelerate the growth of its energy business, the group's largest and highest returning division.' The healthcare business delivered £859.4 million of revenues in the year to March 31 2024 and underlying earnings of £88.1 million – representing around 13% of the group's overall adjusted operating profit. Donal Murphy, chief executive of DCC, 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.' DCC expects the deal to complete in the third quarter of 2025. FTSE 100 firm DCC made total revenues of £19.9 billion in the year to March last year. It announced plans last November to sell the healthcare arm, following a strategic review. 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.'
