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Diploma plc

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Diploma plc
Company typePublic
IndustryTechnical products and services
Founded1931
HeadquartersLondon, England, UK
Key people
David Lowden, (Chairman)
Johnny Thomson (CEO)
RevenueIncrease £1,200.3 million (2023)[1]
Increase £237.0 million (2023)[1]
Increase £118.3 million (2023)[1]
Websitewww.diplomaplc.com

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

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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 distributor of seals, in December 2008,[6] and Kubo Tech, a Swiss-based seals distributor, 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

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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]

References

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  1. ^ a b c "Annual Report 2023" (PDF). Diploma. Retrieved 11 February 2024.
  2. ^ Diploma plc sees expansion in CAD/CAM, memory chip markets. CBR online. 17 May 1989.
  3. ^ SEI Macro sold to Avnet in £37.5m deal Electronics Weekly, 3 September 1999
  4. ^ "About Robert Lee Distribution". rlee.co.uk. Archived from the original on 15 June 2012. Retrieved 28 March 2015.
  5. ^ Diploma sells Henry Whitham for 11.1 mln stg AFX UK Focus, 20 March 2001
  6. ^ "RT Dygert International was acquired by Diploma on 23 December 2008". Mergr. Retrieved 7 September 2023.
  7. ^ "Diploma PLC übernimmt Kubo Gruppe". Schweizer Maschinenmarkt. 16 March 2015. Retrieved 7 September 2023.
  8. ^ "Diploma CEO steps down after four months in charge". U.S. Reuters. Retrieved 2018-10-24.
  9. ^ "Investors revolt over bonus award for Diploma chief Johnny Thomson". The Times. 17 January 2020. Retrieved 7 September 2023.
  10. ^ "Nye britiske ejere trækker millionbeløb ud af Simonsen & Weel". Med Watch. 7 March 2022. Retrieved 7 September 2023.
  11. ^ "Diploma makes GBP76 million acquisition, announces capital raise". Morning Star. 16 March 2023. Retrieved 7 September 2023.
  12. ^ "Diploma Acquires Distribuidora Internacional Carmen For Initial 170 Mln Pounds". RTT News. 13 July 2023. Retrieved 7 September 2023.
  13. ^ "About us". Diploma plc. Retrieved 14 June 2022.
  14. ^ Miller, Cameron M. (2018-04-09). "Diploma Plc - Enough To Seal The Deal?". Seeking Alpha. Retrieved 2019-04-23.
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