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Exertis to expand pro AV, consumer electronics and small domestic appliances offerings

DCC Technology (trading as Exertis) has announced plans to significantly expand its offerings with the pro AV, consumer electronics and small domestic appliances sectors.

First up, Exertis is set to acquire COMM-TEC GmbH, a leading supplier of pro AV solutions to resellers and systems integrators across Europe. Headquartered east of Stuttgart, the company generated over €90 million revenue in its last financial year. It employs over 150 staff across Germany, Switzerland, Austria, Italy and Spain and with sales operations in Eastern Europe.

“Pro Audio-Visual is a strategic priority for Exertis, growing from an already strong position in the UK&I, Nordics and France, along with recent market leading acquisitions in North America; COMM-TEC is a key investment in our continuing growth story,” said Gerry O’Keeffe, Exertis International managing director.

“COMM-TEC provides Exertis’ customers and vendors with a first-class European platform and together with Exertis’ Supply Chain Solutions business gives us global reach in this important and growing category.

“COMM-TEC is a specialist in providing value-added pro AV solutions with an emphasis on pre and post sales technical support for its customers. It has an excellent reputation in the markets in which it operates. In addition to increasing our presence in Continental Europe, this acquisition provides great synergy opportunities with our Exertis Pro AV Solutions divisions in other countries.

“The acquisition will provide our customers with increased range of products and services and aligns Exertis with our vendor partners who are increasingly looking for companies that can support them in realising their international Pro AV and IT ambitions.”

Amacom

DCC has also announced its intention to acquire Amacom, a leading supplier of consumer electronics and small domestic appliances to retail, etail and B2B resellers, subject to approval from the relevant competition authorities.

Located in Den Bosch, in the south of the Netherlands, the company employs around eighty staff with revenues of €160 million in the last financial year.

“Amacom provides us with the opportunity to expand our consumer electronics business in Continental Europe. There is great synergy between our two companies in the consumer market which we can leverage to the benefit of our vendors, who increasingly want to work with fewer partners across Europe,” said O’Keeffe.

“Amacom is well respected for its sophisticated distribution and service capabilities, serving the Benelux market with an impressive, online portal that is widely used by retailers, and has strong relationships with key vendors.”

Amacom holds a leading position with vendors who include Clearplex, LG, Panasonic, Philips, Samsung and Sony.

DCC financial results

The expansion news has been announced along with DCC’s latest financial results, which show another significant year of growth.

All divisions of DCC recorded very strong profit growth. Adjusted earnings per share on continuing activities are up 12.8% to 358.2 pence, reflecting the equity placing completed during the year.

With approval of this year’s final dividend, DCC will have recorded 25 years of unbroken dividend growth since listing in 1994. A proposed 13.7% increase in the final dividend will see the total dividend for the year to increase by 12.5%.

“I am very pleased to report that the year ended 31 March 2019 has been another year of significant progress for DCC. An excellent trading performance, very strong cash generation and continued acquisition activity across the Group exemplifies the DCC business model. I am particularly pleased that each division recorded very strong growth in operating profit and traded in line with expectations, given the mild weather conditions experienced during the year,” said DCC chief executive Donal Murphy.

“It has been another active year from a development perspective and we have committed approximately £370 million to acquisitions during the period. Each of the new acquisitions announced today are good examples of our divisional strategies in action. DCC LPG’s acquisition of Pacific Coast Energy, our first material bolt-on in the US LPG market, will strengthen our position in the north-west of the US, helping to build further scale in that region. Similarly, DCC Technology’s acquisition of both Comm-Tec and Amacom significantly enhances our business in Continental Europe and will strengthen our relationships with suppliers and customers in the region.”

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