Last checked at 3 Oct 2011 07:00
DCC completes the acquisition of Pace Fuelcare Limited
DCC plc, the sales, marketing, distribution and business support services group, has completed the acquisition of Pace Fuelcare Limited ("Pace") following clearance from the UK Office of Fair Trading ("OFT").
On 17 February 2011, DCC announced that it had reached agreement with MRH (GB) Ltd. ("MRH") to acquire the entire issued share capital of Pace conditional, inter alia, on clearance from the OFT. DCC agreed with the OFT that MRH would retain Pace's business on the Isle of Wight (representing approximately 10% of Pace's annual volumes).
The business acquired sold 455 million litres of fuel in the year ended 26 September 2010 and operates from 19 locations across southern England with a fleet of 83 road tankers and 201 employees. The revised net consideration paid by DCC for Pace (excluding its business on the Isle of Wight), on a cash free/debt free basis, is €23 million (Stg£20 million).
For Reference:
Tommy Breen, Chief Executive, DCC plc
Donal Murphy, Managing Director, DCC Energy
Redmond McEvoy, Investor Relations Manager
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie