KKR and Energy Capital Partners win DCC Energy backing for a takeover offer worth up to £5.75 billion

DCC Energy PLC announced on 28 July 2026 that it is backing a takeover offer worth up to £5.75 billion (approximately $7.7 billion) from private equity firm KKR and specialist energy investor Energy Capital Partners (ECP). The announcement confirms that the DCC Energy board has recommended the approach from the two buyers. DCC Energy operates in the energy distribution and services sector. The deal, if completed, would represent one of the larger leveraged energy acquisitions in the UK market in the current cycle. The backing from the DCC Energy board indicates that the offer has progressed beyond preliminary discussions to a stage where a formal recommendation has been made to shareholders. The transaction involves two distinct buyers: KKR, a global alternative asset manager, and Energy Capital Partners, a US-based private equity firm focused on the energy sector. The sources do not name law firm advisers on either side of the transaction or provide detail on the financing structure, regulatory approvals required, or any conditions attached to the offer. The deal sits at the intersection of the private equity take-private trend and the strategic repositioning of diversified energy businesses in Europe, where buyers are increasingly separating out energy distribution and services assets from broader conglomerates. At £5.75 billion, this transaction is material by any measure and is expected to require regulatory scrutiny.

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