US-based industrial conglomerate Dover has completed the acquisition of Tokheim’s dispenser and system businesses for €425m (£310m). News of the deal was first announced in September last year.
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 the transaction and will become a stand-alone company remaining with the current owners of Tokheim.
"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 fueling solution.”
Tokheim is the fifth major acquisition for OPW in the past two-and-a-half years, and matches previous acquisitions (Fibrelite, KPS, Jump, Liquip) of brands outside the North American market.
"OPW’s goal is to bring the very best solutions to our customers in all regions of the world," said Keith Moye, OPW vice president of global marketing. "Our combined product portfolio now comprises the industry’s broadest product offering, enabling us to bring a complete solution to our customers.”