ECP, KKR agree to acquire DCC Energy in $7.7bn deal

• Deal values DCC Energy’s entire issued and to be issued share capital at approximately £5.75 billion ($7.7 billion; €6.7 billion), a 24% premium to its undisturbed closing price
• Structure includes up to an additional 125 pence per share tied to a potential future sale of DCC Energy’s Nexora business
• Consortium comprises Energy Capital Partners, the infrastructure investment platform of Bridgepoint Group, and KKR’s Global Infrastructure strategy

Energy Capital Partners (ECP) and KKR have agreed to acquire DCC Energy, in a deal valuing the Irish energy distribution group at approximately £5.75 billion ($7.7 billion; €6.7 billion).

The acquisition, structured as a scheme of arrangement under Irish law, comprises 6,525 pence in cash per share plus a 147.22 pence final dividend already paid to shareholders, together representing a 24 percent premium to DCC Energy’s undisturbed closing price and a 33 percent premium to its three-month volume-weighted average price. Shareholders may also receive up to an additional 125 pence per share depending on proceeds from a potential sale of DCC Energy’s Nexora business, for which the company is running a separate sales process.

DCC Energy is a multi-energy sales and distribution business serving commercial, industrial and domestic customers across Europe and the US, delivering primarily off-grid energy including liquid gas alongside service station and fleet services. The company generated revenue of £15.4 billion and adjusted operating profit of £634 million in the financial year ended March 31.

“DCC Energy has built a position in energy distribution, and its transition to a pure-play energy business further sharpens its strategy,” said Ryan Miller, managing director, infrastructure, at KKR, in a statement. “The company is at an important moment, and delivering the next phase of this transition across a complex asset base will require significant operational transformation against the backdrop of a changing and volatile energy market. KKR has a long track record as an active owner in energy infrastructure and services, and we intend to draw on our global platform, operational expertise and sector experience to support DCC Energy’s ambition to become a leading global energy business.”

KKR is investing primarily through its Global Infrastructure strategy, which had approximately $107 billion in assets under management as of March 31. ECP is the infrastructure investment platform of Bridgepoint Group, with which it manages approximately $98 billion in combined assets under management.

The scheme meeting and extraordinary general meeting are expected to take place in September 2026, with the transaction expected to become effective in the first quarter of 2027.

Editor’s note: This news brief was produced with the assistance of artificial intelligence.

Editor’s note: Bridgepoint owns PEI Group, the publisher of PE Hub.