Diploma plc

Diploma is a British-based business supplying specialised technical products and services. It is a constituent of the FTSE 100 Index.

Diploma
TypePublic
IndustryTechnical products and services
Founded1931
HeadquartersLondon, United Kingdom
Key people
David Lowden, (Chairman)
Johnny Thomson (CEO)
RevenueIncrease £1,012.8 million (2022)[1]
Increase £144.3 million (2022)[1]
Increase £95.4 million (2022)[1]
Websitewww.diplomaplc.com

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]

References
  1. "Annual Report 2022" (PDF). Diploma. Retrieved 16 February 2023.
  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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