American industrial conglomerate Dover has assumed control of a Dundee petrol pumps factory after completing a deal for Tokheim Group’s fuel dispensers business.
Dover and Tokheim executives have spent the past four months finalising details of the swoop before the deal finally went through late on Thursday evening.
One of the major assets which Dover now owns is Tokheim’s factory at West Pitkerro Industrial Estate.
Tokheim’s 400-strong Dundee workforce has been retained and transferred to Dover under TUPE regulations and the factory is operating normally as part of the new owner’s OPW subsidiary.
New York Stock Exchange-listed Dover said the acquisition made OPW the only end-to-end fuel site solutions operation on the global market.
The development means a customer can buy everything from underground tanks to containment equipment, piping and fuel pumps from a single source.
The addition of the Tokheim business follows a period of rapid acquisition-led growth for OPW.
In the past 30 months, the firm has also added Fibrelite, KPS, Jump and Liquip to its expanding portfolio.
“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 more complete solution to our customers.”
Bill Arundel, Tokheim’s Dundee-based group sales director, said: “Tokheim is excited about the acquisition by Dover Corporation, and the opportunities the partnership will bring to our customers and the 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.”
Tokheim’s history in Dundee extends back to 1998 when it acquired Schlumberger’s Retail Petrol Systems division.
It in turn had purchased Dundee-based Dunclare Dispensers in 1991.