Dover announced that it has executed an agreement with Tokheim Group S.A.S., pursuant to which Dover has made a binding offer to acquire Tokheim’s dispenser and system businesses for a purchase price of EUR 425 million (approximately USD $465 million). The Tokheim Businesses will become part of OPW, a business unit within Dover’s Fluids segment. Tokheim’s sales and service divisions are not a part of this transaction and will become a stand-alone company remaining with the current owners of Tokheim. The transaction is subject to completion of discussions with certain of Tokheim’s works councils, certain customary regulatory filings and other customary conditions, and is expected to close early in 2016.
Headquartered in Paris, France, Tokheim is a leading manufacturer of fuel dispensers, retail automation systems, and payment systems. The Tokheim businesses have manufacturing operations in Europe, China, India, and Brazil. The addition of the Tokheim Businesses’ product offerings will further enhance OPW’s position in retail fueling equipment. Through this acquisition, Dover will establish OPW as a leading retail fueling systems provider, featuring a full “Station-in-a-Box” offering with unrivaled product breadth.
“We are excited about the acquisition of Tokheim’s dispenser and systems businesses,” said Robert A. Livingston, Dover president CEO. “The acquired technology fits perfectly with OPW’s strong suite of products and systems, and Tokheim’s strong presence in Europe, Africa and Asia complements OPW’s global presence. Together, the combined business will offer unparalleled solutions for the growing retail fueling market.”
Dover is a diversified global manufacturer with annual revenues in excess of $7 billion. It delivers equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
OPW is a global leader in fluid handling solutions for the safe and efficient handling and distribution of fuels and critical fluids. OPW designs and manufactures retail service station equipment, CNG, and LPG nozzles and accessories, electronic tank gauge systems, fleet fuel control systems, car wash systems, loading arms, valves and dry-break couplings, tank truck equipment, and rail car valves. For additional information on OPW, visit www.OPWGlobal.com.