Stampede to spearhead DCC’s global ProAV growth with Kevin Kelly serving as Stampede President & CEO; Mark Wilkins to retire.
AMHERST, NEW YORK, July 13, 2018 – Stampede, the global leader in value added ProAV distribution, today announced that it has been acquired by the technology division of DCC plc, a £14.3 billion revenue, London Stock Exchange listed (LSE) international sales, marketing and support services group that employs 11,000 people in four divisions operating in 17 countries.
Tim Griffin, DCC Technology, Managing Director said, “The acquisition of Stampede adds an exciting new brand to our portfolio that complements our Exertis brand in Europe. The combination of Stampede’s expertise in value added distribution and our resources is going to unleash a new wave of opportunity for our partners in ProAV around the world. By establishing a presence in North America, we will be strategically positioned to leverage all of the new opportunities we expect to develop as a result of this acquisition.”
Stampede President & CEO Kevin Kelly called the acquisition a game changing paradigm shift that ushers in an exciting new era for a global ProAV industry. “Overnight, Stampede has become one of the world’s largest ProAV distributors, able to operate at a level certain to create exciting new business opportunities for our partners. Supported by the resources and long-term commitment of DCC, we are now able to scale across all ProAV product categories in all vertical markets globally in a way that we simply could not do on our own. For our manufacturer partners this means greater reach and scale. For our resellers, this means more products and new product categories than ever before.”
Kelly called the acquisition the right move at the right time. “Everything we have accomplished as a company over the last 20 years is due to the amazing talent and ingenuity of our employees who created a world class company that has been limited in its growth potential only by its balance sheet. With this acquisition, we no longer have the same financial constraints limiting what we can do as a value added distributor.”
Kelly said that the acquisition does not change the way Stampede conducts business around the world. In fact, it will accelerate the company’s global business development efforts.
“Our employees, resellers and vendor partners will see an exciting evolution in how we go to market and the level of investment we can now make to grow our business.”
With the completion of the acquisition, Stampede founder and CEO Mark Wilkins has decided to retire, after nearly 40 years of service to the ProAV industry. “I am incredibly proud of everything we have accomplished as Stampeders over these last 20 years,” Wilkins said today. “Now, with the backing and support of DCC, I can retire knowing that the company’s future is in very good hands.”
About DCC plc
DCC is a leading international sales, marketing and support services group with a clear focus on performance and growth. It operates through four divisions: LPG, Retail & Oil, Healthcare and Technology.
DCC is an ambitious and entrepreneurial business operating in 17 countries, supplying products and services used by millions of people every day throughout Europe. Building strong routes to market, driving for results, focusing on cash conversion and generating superior sustainable returns on capital employed enable the Group to reinvest in its business, creating value for its stakeholders. Headquartered in Dublin, employing approximately 10,000 people,
DCC’s four divisions are:
• DCC LPG – a leading LPG sales and marketing business with operations in Europe, Asia and the US and a developing business in the retailing of natural gas and electricity;
• DCC Retail & Oil – a leader in the sales, marketing and retailing of transport fuels and commercial fuels, heating oils and related products and services in Europe;
• DCC Healthcare – a leading healthcare business, providing products and services to healthcare providers and health and beauty brand owners; and
• DCC Technology – a leading sales, marketing and services partner for global technology brands.
DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2018, DCC generated revenue of £14.3bn and operating profit of £383.4m.
DCC has an excellent record, delivering compound annual growth of 14.4% in operating profit and generating an average return on capital employed of approximately 19% over 24 years as a public company.