StockMarketWire.com - Support services group DCC said it had expanded its US liquefied petroleum gas business through the acquisition of the NES group.

The company also reached agreement with SHV Energy to acquire its Dutch LPG business, Primagaz Nederland.

The combined enterprise value of the two transactions was around £60m, the company said.

Headquartered in Brooklyn, Connecticut, NES group marketed, sold and delivered propane and other related products and services to residential and commercial customers in Connecticut, Rhode Island and Massachusetts.

NES group was DCC LPG's first acquisition in the north east of the US and will provide a platform for further development in a region characterised by strong underlying demand for propane, the company said.

The deal to acquire Primagaz from SHV Energy, subject to competition authority approval, was expected to be completed during the fourth quarter of DCC's financial year ending 31 March 2021.

Primagaz was 'highly complementary to DCC LPG's existing business in the Benelux region,' DCC said. 'Primagaz, which focuses on the bulk and cylinder LPG markets, serves approximately 10,000 customers and supplies over 28,000 tonnes of LPG annually.'







At 8:00am: [LON:DCC] Dcc PLC share price was 0p at 6400p



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