Gilbarco Veeder-Root Acquires CNG Systems Maker
Deal extends fuel technology suite with compressed natural gas
GREENSBORO, N.C. --Gilbarco Inc. has signed a definitive purchase agreement to acquire ANGI Energy Systems LLC, a leader in the design and assembly of compressed natural gas (CNG) systems for vehicle fueling, pending final closure of the deal.
Located in Janesville, Wis., ANGI has more than 30 years of experience in CNG system design and manufacturing. It will join forces with Gilbarco's retail and commercial fueling expertise, allowing the combined company to offer a 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, the company said, 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 of 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, said, "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 Greensboro, N.C.-based 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.
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, the company said.
ANGI Energy Systems is a privately held company that designs and manufactures systems for CNG vehicle fueling and tube trailer transport in applications around the world.
Gilbarco Veeder-Root is a worldwide technology leader for retail and commercial fueling operations. It offers integrated solutions from the forecourt to the convenience store and head office.