One Equity Partners buys DCC's Nexora unit for $725M

What's the deal? DCC Energy has agreed to sell its technology division, NexoraDealroom has a profile for this one. Try Dealroom →, to funds advised by One Equity PartnersDealroom has a profile for this one. Try Dealroom → for an enterprise value of $725 million on a cash-free, debt-free basis. The sale is conditional on regulatory approvals and expected to complete on or after March 1, 2027.

Why now? The disposal is tied to the recommended acquisition of DCC Energy by Dragon Bidco Limited, a vehicle owned by funds advised by Energy Capital PartnersDealroom has a profile for this one. Try Dealroom → and Kohlberg Kravis Roberts. DCC Energy shareholders approved that scheme of arrangement on September 18, 2026.

What's in it for shareholders? Beyond 6,525 pence in cash per share from the main acquisition, holders can receive additional consideration of up to 125 pence per share if the Nexora sale meets set conditions before July 31, 2027.

How the payout works: Net proceeds between $650 million and $800 million trigger a payment scaled linearly from zero to 125 pence. Proceeds above $800 million cap the extra payment at 125 pence per share.

Based on estimated net proceeds of $701 million, DCC Energy expects the additional consideration to be 42 pence per share.

The signal: The deal shows private equity carving up DCC Energy in parts, with One Equity Partners taking the technology arm while the broader business goes to Energy Capital Partners and KKR. Splitting out Nexora lets the buyers focus DCC on its core energy operations.

Read more: investegate.co.uk

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