DCC LPG, the leading international sales, marketing and support services group headquartered in Dublin, has reached agreement with Linde AG to acquire Tega-Technische Gase und Gasetechnik GmbH – its LPG and refrigerant gas distribution business in Germany.
Tega, headquartered in Würzburg was previously operated on a standalone basis within the Linde Group. The gas company supplies around 35,000 tonnes of LPG annually to 15,000 domestic and commercial customers, and also sells refrigerant gases to wholesalers and businesses for use in air-conditioning, commercial cooling systems and refrigerators.
Donal Murphy, Chief Executive of DCC plc, said, “The acquisition of TEGA will provide DCC LPG with a platform in the large, relatively fragmented German LPG market and further strengthens its position in the LPG market in Europe. In addition, the acquisition of TEGA provides an entry into the refrigerant gas market further enhancing the service capability of our business, following our expansion into medical and aerosol gases in recent years. We very much look forward to welcoming the TEGA management and employees into the DCC Group.”
The transaction is expected to complete before DCC’s financial year ends on 31st March. TEGA will continue to be led by its existing management team.