Ireland/Germany: LPG and Refrigerant Gases Irish DCC LPG Acquires German Tega from Linde
DCC LPG has reached agreement with Linde to acquire Tega-Technische Gase und Gasetechnik, its LPG and refrigerant gas distribution business in Germany.
Dublin/Ireland and Würzburg/Germany — The transaction is expected to be completed before 31 March 2018, following receipt of customary regulatory consents.
Tega, headquartered in Würzburg, employs approximately 100 people across five operating sites, largely in southern Germany. Tega has revenue of $ 90.5 million evenly split between LPG and refrigerants. The business supplies 35,000 tonnes of LPG annually to about 15,000 domestic and commercial customers. It also supplies refrigerant gases to wholesalers and end-users for use in air-conditioning, commercial cooling systems and refrigerators.
The business has operated on a standalone basis within The Linde Group and will continue to be led, post-completion, by its existing management team.
The acquisition of Tega will provide DCC LPG with a platform in the large German LPG market and further strengthens its position in the LPG market in Europe, the company announced.