Paris, May 27th 2016 – Funds advised by Motion Equity Partners, an independent mid-market European private equity firm, announced today that they had sold Fairbanks, a global leader in providing fuel management services to the retail and commercial fueling industry, to OPW, a subsidiary of Dover Corporation. This transaction follows the first closing of the sale of Tokheim’s Dispensers and Systems businesses to OPW.
For more than 20 years, Fairbanks has been providing superior fuel management services to independent retailers, hypermarket chains and multi-national companies. In recent years, the company has increased its presence and now monitors circa 13,000 forecourts in more than 35 countries.
Fairbanks supplements OPW’s offer, a business within the Dover Corporation that recently acquired the Dispensers and Systems businesses of Tokheim from Motion Equity Partners. Fairbanks will continue to operate as a separate entity, while leveraging the capabilities of OPW and Tokheim.
OPW is recognized around the world as an end-to-end supplier of best-in-class equipment and solutions for the downstream petroleum sector, with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world.
Together, as leaders in their respective fields, Fairbanks and OPW should create many new business opportunities. For Fairbanks, it means access to a vast industry network with many avenues for growth. OPW’s commitment to further develop Fairbanks, both in the UK and internationally, will help Fairbanks expand its global footprint. Fairbanks will bring a new dimension to OPW’s already comprehensive range of services, to continue to lead the way in delivering forecourt solutions worldwide.
Steve Jones, co-founder of Fairbanks, said: “Today’s announcement is an important milestone for Fairbanks as we join forces with OPW; the power of this major brand name will help to significantly boost our profile within the industry. This union promises an exciting future as we embark on the next stage of the Fairbanks journey.”
Antoine Soulier, newly appointed Managing Director of Fairbanks said: “Fairbanks is excited to join the OPW team. With its global footprint, OPW provides a great opportunity to expand Fairbanks’ products and services into new markets and regions.”
David Crouse, President of OPW said, “The acquisition of Fairbanks will expand OPW’s end-to-end solutions, providing our customers with integrated around-the-clock fuel monitoring and data analysis as an option within the larger OPW suite of products and services. By providing this additional capability, we can help customers detect and eliminate fuel loss, reduce operating costs, improve profitability and meet environmental and regulatory requirements. Protecting people and the environment is a key tenet for OPW, and we can further support that mission with the addition of Fairbanks.”
About Fairbanks:
For more than 20 years, Fairbanks Environmental Ltd. has been providing superior fuel management services to its customers. Fairbanks uses the power of real-time data to reduce fuel losses, lower operational costs and improve margins for fuel retailers. With customers in more than 35 countries and serving over 13,000 fuel stations, Fairbanks has nearly 200 employees with a global network of licensees providing a flexible, 24/7 service for independent retailers, hypermarket chains and multi-national companies.
Additional information available at: www.fairbanksglobal.com
About OPW:
OPW is a global leader in fluid handling, management, monitoring and control solutions for the safe and efficient handling and distribution of fuels and critical fluids. OPW designs and manufactures the industry’s most complete end-to-end fueling solutions for retail service stations and fleet fueling facilities, including fuel dispensers, payments systems, site automation, electronic tank gauge systems, fleet fuel control systems, car wash systems, piping and containment, access covers, and tank valves and fittings. OPW also designs and manufacturers CNG, Hydrogen, and LPG nozzles and accessories, loading arms, valves and dry-break couplings, tank truck equipment, and rail car valves and equipment. OPW has nearly 4,000 employees with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world. OPW is part of the Fluids segment of Dover (NYSE: DOV).
For more information, visit: www.opwglobal.com
