Pinsent Masons advises DCC Energy on its largest acquisition to date in Germany

Once regulatory approvals have been obtained, the transaction will represent DCC Energy’s largest acquisition to date in Germany and considerably expands DCC Energy’s customer base in Germany to over 100,000 customers.

Progas, founded in 1949, is a leading distributor of LPG in Germany serving a customer base of over 70,000 domestic and commercial customers. Progas distributes the equivalent of over 300 million litres of LPG annually via its nationwide supply, bottling and distribution network (including two import terminals) and employs approximately 350 people. 

Following Closing, the acquisition of Progas will advance DCC Energy’s strategy to grow its LPG offering by 50% to 2030, including expanding its existing footprint through synergistic acquisitions. LPG plays a critical role as an immediate, scaled, cleaner‐burning hydrocarbon (compared to oil distillates) for customers who require high intensity energy solutions. The acquisition significantly scales DCC Energy’s presence in Germany and creates a platform to cross‐sell DCC Energy’s growing Energy Management Services capability into the German market.

The Pinsent Masons team was led by Frankfurt based corporate partner Volker Balda and involved colleagues from various German and UK offices and skillsets including Corporate and Commercial, Tax, Employment, IP/IT, Competition, Compliance, Property. 

Commenting on the Deal, Volker Balda says: “It has been great to advise DCC Energy on this landmark transaction which is at the same time a testament of our corporate capabilities in one of our core sectors.”