DCC Energy acquisition by ECP and KKR values group at $7.7bn
ECP and KKR agreed to buy DCC Energy in a £5.75bn deal, adding a major European and US energy distributor to their infrastructure portfolios.
By Marcus V. Thorne · Markets Editor
· 3 min read
Energy Capital Partners and KKR have agreed a DCC Energy acquisition that values the Irish energy distribution group’s issued and to-be-issued share capital at about £5.75 billion, or $7.7 billion and €6.7 billion, PE Hub reported. The transaction offers shareholders cash, a previously paid dividend and a possible additional payment linked to a separate asset sale, giving infrastructure investors control of a large off-grid energy distributor across Europe and the US.
The buyer group comprises ECP, the infrastructure investment platform of Bridgepoint Group, and KKR’s Global Infrastructure strategy, according to PE Hub. The deal is being structured as a scheme of arrangement under Irish law, a court-supervised process commonly used to implement takeovers with shareholder approval.
Under the terms reported by PE Hub, DCC Energy shareholders would receive 6,525 pence in cash per share. The consideration also includes a 147.22 pence final dividend that has already been paid to shareholders.
Together, those elements represent a 24 percent premium to DCC Energy’s undisturbed closing price and a 33 percent premium to its three-month volume-weighted average price, PE Hub reported. Shareholders may also receive as much as 125 pence more per share, depending on the proceeds from a potential sale of Nexora, a DCC Energy business that is being marketed through a separate sales process.
What is DCC Energy?
DCC Energy is a multi-energy sales and distribution company serving commercial, industrial and household customers in Europe and the US, according to PE Hub. Its operations focus mainly on off-grid energy, including liquid gas, and also include service station and fleet services.
For the financial year ended March 31, the company generated revenue of £15.4 billion and adjusted operating profit of £634 million, PE Hub reported. Those figures place the business among the larger energy distribution platforms targeted by infrastructure investors seeking operating assets with cross-border scale.
Ryan Miller, managing director for infrastructure at KKR, said in a statement that DCC Energy had built a position in energy distribution and that its move toward a pure-play energy model had sharpened its strategy. He said the next phase would involve operational transformation across a complex asset base amid a changing and volatile energy market.
Miller said KKR planned to use its global platform, operational capabilities and energy infrastructure experience to support DCC Energy’s goal of becoming a leading global energy business.
KKR is making its investment primarily through its Global Infrastructure strategy, which had about $107 billion in assets under management as of March 31, according to PE Hub. ECP, as Bridgepoint Group’s infrastructure investment platform, manages about $98 billion in combined assets under management with Bridgepoint.
The shareholder scheme meeting and extraordinary general meeting are expected to be held in September 2026, PE Hub reported. The transaction is expected to become effective in the first quarter of 2027.
This story draws on original reporting from PE Hub.
