1. “DCC made a decision that they want to focus on energy, which means that Technology is somewhat in the cheap seats. We want to be someone’s primary concern.”
Who said it? Exertis IT CEO, Tim Griffin
Griffin was referring to DCC’s bombshell decision this month to potentially sell IT distribution arm Exertis (formally DCC Technology) as it refocuses on its energy business. In a follow-up interview with IT Channel Oxygen, he characterised the distributor’s potential sale as “incredibly exciting”, asserting that a new owner could refuel M&A and growth.
Why was it significant?
Exertis is the UK’s third largest distributor, according to Oxygen’s Top 50 Must-Know Distributors 2024.
The announcement means that three of the four largest UK players (Ingram, Westcoast and now Exertis) have changed, or have announced plans to potentially change, ownership in 2024.
FTSE 100 conglomerate DCC has begun preparations for the sale of its healthcare arm, and will review strategic options for DCC Technology “within the next 24 months”.
“Our actions are designed to ensure that these businesses and our people have the best opportunity to grow and progress,” DCC CEO Donal Murphy said.
What happened next?
It’s too early to say, but Griffin claimed the “full spectrum” of trade and PE suitors would be open to Exertis as it seeks a new owner over the coming 24 months.
“In my mind that says there’s capital out there that wants to go after distribution,” he said of the recent takeovers involving his big global rivals.
