DCC Energy agreed to sell its technology division, Nexora, to investment subsidiaries of funds managed or advised by One Equity Partners for an enterprise value of $725 million, cash-free and debt-free. The transaction is subject to customary regulatory approvals and is expected to close on or after March 1, 2027.
Nexora operates a group of specialist technology businesses connecting technology brands with customers across workplaces, classrooms, live entertainment, digital infrastructure, and the home.
The company said One Equity Partners will become its new owner and investment partner, providing a platform to accelerate growth and invest further in its people and capabilities.
Nexora also expects the partnership to create additional opportunities for its customers, vendor partners, and employees.
The divestiture comes as DCC Energy moves toward its previously announced acquisition by Dragon Bidco, a company indirectly owned by funds and investment vehicles advised by Energy Capital Partners and KKR.
DCC Energy and Dragon Bidco announced that acquisition on July 27, 2026, and DCC Energy shareholders approved the transaction scheme on September 18.
Under the acquisition terms, DCC Energy shareholders are entitled to receive 6,525 pence in cash per share plus potential additional consideration of as much as 125 pence per share if specified conditions related to the Nexora disposal are satisfied or waived before July 31, 2027.
Based on an assumed March 1, 2027 completion date and no specified leakage before closing, DCC Energy currently expects the Nexora transaction to generate approximately $701 million in net proceeds.
That would result in estimated additional consideration of 42 pence per DCC Energy share. The final amount will be determined after the Nexora sale closes.
If the applicable disposal conditions are not satisfied or waived by July 31, 2027, no additional consideration related to the Nexora sale would be payable to DCC Energy shareholders.
DCC Energy said Nexora has developed a strong market position during its time within the group and credited the company’s employees with contributing to its growth.
Nexora CEO Clive Fitzharris is leading the business into its next phase under One Equity Partners.
One Equity Partners is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors across North America and Europe.
The firm was founded in 2001, spun out of J.P. Morgan in 2015, and has completed more than 500 transactions worldwide. It operates offices in New York, Chicago, Frankfurt, and Amsterdam. Cons…
Jefferies International is serving as sole financial advisor to DCC Energy on the Nexora divestiture, while Hogan Lovells is acting as English legal advisor.
KEY QUOTES:
“Nexora has been an important part of the DCC Group for many years and has built a strong market position through the expertise and commitment of its people. As it begins this next chapter, we would like to thank our colleagues across Nexora for their contribution to DCC Energy and wish them every success for the future.
This transaction recognizes the quality of the business that the Nexora team has built and, subject to completion, will deliver additional value for DCC Energy shareholders. We believe One Equity Partners is well placed to support Nexora’s continued growth, investment and long-term development, benefiting employees and customers alike.”
Donal Murphy, Chief Executive of DCC Energy
