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DCC acquires United Propane Gas to expand presence in US LPG market
StockMarketWire.com
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Sales, marketing, and support services group DCC said it had completed the acquisition of United Propane Gas, 'materially' expanding its presence in the US LPG market.
UPG was DCC LPG's largest acquisition since initially entering the US market in April 2018 and followed the bolt-on acquisitions of NES in September 2020 and Pacific Coast Energy in April 2019, the company said.
The acquisition would considerably expand DCC LPG's geographic presence from 14 to 21 states, and would almost 'double its customer base to over 230,000 customers and the combination will create the sixth largest business in the highly fragmented US LPG market,' it added.
Together with a recent smaller bolt-on acquisition completed in Colorado, the combined enterprise value of the transactions was $145 million, DCC said.
Story provided by StockMarketWire.com
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