One Equity Partners has agreed to buy Nexora, the technology division of DCC Energy, at an enterprise value of $725 million on a cash-free, debt-free basis. The carve-out is linked to Energy Capital Partners and KKR's acquisition of DCC Energy through Dragon Bidco. DCC Energy shareholders will receive 6,525 pence ($86; €77) in cash per share, plus up to 125 pence per share in additional consideration tied to the Nexora sale.
The additional consideration rises on a linear basis from zero to 125 pence per share as Nexora's net sale proceeds go from $650 million to $800 million, capped at 125 pence for net proceeds above $800 million. Assuming the sale completes on March 1, 2027, net proceeds are expected to be $701 million, which would mean additional consideration of 42 pence per share.
Source: PE Hub · Summarized by HeadlinesBriefing