Dover completes purchase of Tokheim’s dispenser and systems businesses
Fluid handling equipment giant Dover Corporation has completed the acquisition of Tokheim Group's dispenser and systems businesses after announcing the agreement on September 2015.
According to Reuters, OPW, a business unit of Dover's fluids segment, acquired the two Tokheim departments (dispenser and systems) for around €425m (£316m).
With this deal OPW closes its fifth major acquisition in the past two-and-a-half years after purchasing four major brands outside the North American market, which include the fluid handling firms: Fibrelite, KPS, Liquip, and loading specialist Jump.
"Both Tokheim and OPW have been leaders in the retail fueling industry for more than a century," said David Crouse, OPW President. "By integrating Tokheim's advanced line of dispensers and automation systems, the combined business will be able to offer our customers an unparalleled end-to-end fuelling solution."
Tokheim is a manufacturer of fuel dispensers, retail automation systems and payment solutions. With a presence in Europe, Middle East, Africa, South America and Asia-Pacific, Tokheim is one of the most recognised brands in the retail fueling industry.
"Our main aim has always been to deliver innovative and high quality products and solutions and we look forward to continuously providing our customers with the best offering and experience available in the worldwide retail petroleum market," said Bill Arundel, Tokheim Group sales and marketing director.
Through this new acquisition OPW has extended its product portfolio and can now provide almost all the equipment necessary (under and above ground) for a gas station, the company said in a statement.
"Our combined product portfolio now comprises the industry's broadest product offering, enabling us to bring a more complete solution to our customers." said Keith Moye, OPW vice president of Global Marketing.