Diploma plc explained

Diploma plc
Type:Public
Foundation:1931
Location:London, England, UK
Key People:David Lowden, (Chairman)
Johnny Thomson (CEO)
Industry:Technical products and services
Revenue: £1,200.3 million (2023)[1]
Operating Income: £237.0 million (2023)
Net Income: £118.3 million (2023)

Diploma plc is a British business supplying specialised technical products and services based in London, England. It is a constituent of the FTSE 100 Index.

History

The company, which was founded in 1931, was first listed on the London Stock Exchange in 1960, and was a market leader in electronic component distribution, building products and special steels until the late 1980s.[2] The electronic component distribution business (SEI Macro) was sold in 1999,[3] the building products business (Robert Lee) was sold in 2000,[4] and the special steels business (Henry Whitham) was sold in 2001.[5]

The company acquired RT Dygert International, a US-based distributer of seals, in December 2008,[6] and Kubo Tech, a Swiss-based seals distributer, in March 2015.[7]

It was announced in August 2018, that CEO Richard Ingram would be stepping down after four months in charge, with John Nicholas acting as executive chairman in interim charge.[8] In January 2020, investors expressed concern about the bonus package offered to the new CEO, Johnny Thomson.[9]

The company acquired Simonsen & Weel, a Danish medical equipment supplier, in January 2021,[10] Tennessee Industrial Electronics, a Nashville-based parts distributor, for £76 million in March 2023,[11] and Distribuidora Internacional Carmen, a Spanish-based distributor of fluid power products, for £170 million in July 2023.[12]

Operations

Diploma is a distributor, operating in the three sectors of Controls (including specialised wiring), Seals (including seals and gaskets) and Life Sciences (including consumables and instrumentation).[13]

The company has operations in North America, Europe, Australia, New Zealand, New Caledonia, and China.[14]

External links

Notes and References

  1. Web site: Annual Report 2023. Diploma. 11 February 2024.
  2. Book: Diploma plc sees expansion in CAD/CAM, memory chip markets. CBR online. 17 May 1989.
  3. http://www.electronicsweekly.com/Articles/03/09/1999/12717/SEI-Macro-sold-to-Avnet-in-37.5m-deal.htm SEI Macro sold to Avnet in £37.5m deal
  4. Web site: About Robert Lee Distribution . rlee.co.uk . 28 March 2015 . https://web.archive.org/web/20120615004928/http://www.rlee.co.uk/company_history . 15 June 2012 .
  5. http://www.iii.co.uk/investment/detail/?display=news&code=cotn:DPLM.L&action=article&articleid=3231560 Diploma sells Henry Whitham for 11.1 mln stg
  6. News: RT Dygert International was acquired by Diploma on 23 December 2008. Mergr. 7 September 2023.
  7. News: Diploma PLC übernimmt Kubo Gruppe. 16 March 2015. Schweizer Maschinenmarkt. 7 September 2023.
  8. News: Diploma CEO steps down after four months in charge. Reuters. U.S.. 2018-10-24. en-US.
  9. News: Investors revolt over bonus award for Diploma chief Johnny Thomson. The Times. 17 January 2020. 7 September 2023.
  10. News: Nye britiske ejere trækker millionbeløb ud af Simonsen & Weel. Med Watch. 7 March 2022. 7 September 2023.
  11. News: Diploma makes GBP76 million acquisition, announces capital raise. 16 March 2023. Morning Star. 7 September 2023.
  12. News: Diploma Acquires Distribuidora Internacional Carmen For Initial 170 Mln Pounds. RTT News. 13 July 2023. 7 September 2023.
  13. Web site: About us. Diploma plc. 14 June 2022.
  14. Web site: Diploma Plc - Enough To Seal The Deal?. Miller. Cameron M.. 2018-04-09. Seeking Alpha. en. 2019-04-23.