# DCC acquires leading distributor of solar solutions, PVO International

- Link: https://www.directorstalkinterviews.com/dcc-acquires-leading-distributor-of-solar-solutions-pvo-international/4121083990
- Published: 2022-09-27T07:52:57+01:00
- Author: Amilia Stone

**[DCC plc](https://www.directorstalkinterviews.com/ftse-company/dcc-plc/dcc.l)**(
LON:DCC), the leading international sales, marketing, and support services group,
has announced that it has agreed to acquire PVO International BV (“PVO”), a leading
distributor of solar panels, invertors, batteries and accessories used in the commercial,
industrial and domestic energy sectors across continental Europe.

PVO was established in 2014 and has grown rapidly to become one of the leading solar
solutions suppliers in Europe, with a market-leading position in the Benelux, and
growing positions in eight other European countries including Germany, Poland and
Finland. PVO sells solar panels and associated products such as invertors, batteries
and mounting materials to its B2B customer base of installers, developers, corporates
and EPCs (Engineering, Procurement and Construction companies). PVO partners with
many of the leading manufacturers in the sector.

The business is headquartered in Rosmalen, the Netherlands, and employs approximately
50 people. PVO’s existing, experienced, management team will continue to lead the
business. They have led PVO’s growth since its foundation. PVO generated revenue
of approximately €190 million in its most recent financial year.

PVO is an excellent strategic fit for DCC. It will leverage PVO’s established market
position in the fast-growing solar PV market and DCC Energy’s knowledge and experience
in transitioning customers to cleaner energy products and services including solar
solutions. DCC also has extensive experience and capability in the closely related
technology products supply chain. In its recent “Leading with Energy” event in May
2022, DCC outlined its strategy to accelerate the net zero journey of its customers
by leading the sales, marketing and distribution of low carbon energy solutions.
In its last financial year, approximately 20% of DCC Energy’s operating profit derived
from services and renewables. This acquisition, together with the recent acquisition
of Protech, will further increase DCC Energy’s capability in and contribution from
renewable energies and services.

In the period since DCC’s results announcement in May 2022 and including the acquisition
of PVO, Protech and other smaller acquisitions, DCC has now committed c.£80 million
in acquiring renewable energies and services businesses. The majority of the consideration
for PVO is payable in cash on completion, followed by earn out payments over three
years based on PVO’s future trading. The above acquisitions in renewable energies
and services are anticipated to generate a return on capital employed of 13% from
completion, rising to mid-teens within two years. The acquisition of PVO is subject
to competition authority approval in the Netherlands, Germany, Austria and Poland
and is expected to complete by the end of the calendar year.

> **Donal Murphy, Chief Executive said today:**
> _“A key part of DCC Energy’s strategy in accelerating the net zero journey of 
> our customers is to build a strong position in the sales, marketing and distribution
> of renewable energy products and services. We have already made good progress 
> in recent years and PVO provides an excellent platform to build a pan-European
> business in the distribution of solar PV and associated products, such as energy
> storage and EV chargers. We are delighted to welcome the PVO team into the DCC
> Group and look forward to supporting their continued growth and development into
> the future.”_

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