|By Marketwired .||
|June 6, 2014 04:53 PM EDT||
GREENSBORO, NC -- (Marketwired) -- 06/06/14 -- Gilbarco, Inc. has signed a definitive purchase agreement to acquire ANGI Energy Systems, LLC, pending final closure of the deal. Located in Janesville, WI, ANGI is a leader in the design and assembly of compressed natural gas (CNG) systems for vehicle fueling. With over thirty years of experience in CNG system design and manufacturing, ANGI will join forces with Gilbarco's retail and commercial fueling expertise, allowing the combined company to offer the most comprehensive suite of CNG dispensing, fuel management, and distributed control systems.
The acquisition signals Gilbarco's commitment to support the growing CNG market and its increasing importance as a transportation fuel, with significant expansion potential from municipal and home-based stations as well as retail installations.
"ANGI's team brings valuable expertise into the Gilbarco family, allowing us to accelerate technology advancements and manufacturing excellence in natural gas fueling," said Stephen Moule, president, Gilbarco North America. "They also bring a team of highly skilled associates, a quality operation and a strong portfolio of customers that we look forward to serving."
John Grimmer, ANGI president, noted, "ANGI continues to grow rapidly due to customer demand. To keep pace, we looked for a strategic partner with systems, processes and people to support our employees and customers as the industry builds out. We found all that and more with Gilbarco."
ANGI will become part of Gilbarco's organization, in a new division that will maintain the ANGI name. The division will continue to operate from their existing facility in Janesville, WI.
The companies will be able to offer seamless integration of the ANGI CNG system with Gilbarco's Encore® CNG Dispenser, delivering retail CNG customers an improved consumer experience with integrated payment and the future extension of merchandising and loyalty programs. Commercial customers will benefit from rich fleet management system functionality and integration with the ANGI system.
ABOUT GILBARCO VEEDER-ROOT
Gilbarco Veeder-Root is the worldwide technology leader for retail and commercial fueling operations. They offer the broadest range of integrated solutions from the forecourt to the convenience store and head office. For almost 150 years, Gilbarco has earned the trust of its customers by providing long-term partnership, uncompromising support and proven reliability. They support business goals and maximize the bottom lines for 19 of the top 20 convenience store operators in the U.S. Gilbarco Veeder-Root. For more information, please visit www.gilbarco.com.
ABOUT ANGI ENERGY SYSTEMS
ANGI Energy Systems is a privately held, North American company that designs and manufactures systems for CNG vehicle fueling and tube trailer transport in applications around the world. Since 1983, ANGI has grown to be North America's leading supplier of CNG refueling equipment for natural gas vehicles by providing reliable and innovative systems. ANGI delivers leading edge CNG equipment and has a long-standing reputation as a leader in the high pressure compression industry. ANGI provides superior customer service, project management, maintenance, and training programs that provide a complete and optimized natural gas refueling system solution for all systems CNG.
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