Key Takeaways
- • DCC Energy agreed to sell its technology division, Nexora, to private equity firm One Equity Partners for a total value of $725m (£548m) on a cash and debt-free basis, with completion expected on or after 1 March 2027.
- • Nexora CEO Clive Fitzharris says the new owner gives the business focus and access to One Equity's portfolio of 60 companies and experience in more than 500 acquisitions.
- • Nexora plans to start M&A conversations quickly with priority targets in professional technology distribution, including pro AV, pro audio, pro lighting and custom compute.
- • Fitzharris reports mid-single-digit top-line growth and extremely strong double-digit profit growth year to date, and targets mid-single to double-digit revenue growth over the next five years.
Summary
DCC Energy has agreed to sell its technology division, Nexora, to One Equity Partners for a total value of $725m (£548m) on a cash and debt-free basis, according to the primary report. The sale is expected to complete on or after 1 March 2027. DCC first announced its intention to sell Nexora almost two years earlier. Per trade reporting, the sale comes ahead of a £5.75bn ($7.61bn) takeover of DCC by a consortium led by KKR and Energy Capital Partners, agreed in July.
In an interview with CRN on the day of the announcement, Nexora CEO Clive Fitzharris said the sales process was very competitive and that the time taken allowed the business to define what it wanted from a buyer. He described DCC as a supportive owner that had built the business over many years. Fitzharris cited two benefits of the new arrangement: a dedicated owner focused on Nexora's strategy, and membership of One Equity's broader portfolio. He said One Equity has acquired more than 500 businesses and currently holds 60 in its portfolio, which he expects to create an ecosystem of shared expertise and capital.
Fitzharris said Nexora's strategy will remain largely unchanged, centred on becoming the global leader in professional technology value-added distribution. The business has divested non-core IT and consumer electronics operations in Europe. M&A appetite, which was held back during the sales process, is now "100 per cent" back on the table. Nexora is targeting professional technology businesses that digitalise physical spaces, spanning AV, professional and consumer audio, pro lighting and custom compute. Its Nordic business holds a strong position in pro gaming components. Fitzharris said the company already has priority targets and expects to begin more purposeful conversations with them in the coming months.
On financial performance, Fitzharris reported mid-single-digit top-line growth and extremely strong double-digit profit growth year to date, after an excellent prior year. He expects revenue growth of mid-single to double digits over the next five years, with strong profitability. North America remains a key growth market, with opportunities both organic and through mid-size acquisitions. Europe is also expected to expand through M&A, building on portfolio work in the region.
In an interview with CRN on the day of the announcement, Nexora CEO Clive Fitzharris said the sales process was very competitive and that the time taken allowed the business to define what it wanted from a buyer. He described DCC as a supportive owner that had built the business over many years. Fitzharris cited two benefits of the new arrangement: a dedicated owner focused on Nexora's strategy, and membership of One Equity's broader portfolio. He said One Equity has acquired more than 500 businesses and currently holds 60 in its portfolio, which he expects to create an ecosystem of shared expertise and capital.
Fitzharris said Nexora's strategy will remain largely unchanged, centred on becoming the global leader in professional technology value-added distribution. The business has divested non-core IT and consumer electronics operations in Europe. M&A appetite, which was held back during the sales process, is now "100 per cent" back on the table. Nexora is targeting professional technology businesses that digitalise physical spaces, spanning AV, professional and consumer audio, pro lighting and custom compute. Its Nordic business holds a strong position in pro gaming components. Fitzharris said the company already has priority targets and expects to begin more purposeful conversations with them in the coming months.
On financial performance, Fitzharris reported mid-single-digit top-line growth and extremely strong double-digit profit growth year to date, after an excellent prior year. He expects revenue growth of mid-single to double digits over the next five years, with strong profitability. North America remains a key growth market, with opportunities both organic and through mid-size acquisitions. Europe is also expected to expand through M&A, building on portfolio work in the region.
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