Funds advised by Motion have increased their investment in the Tokheim Group (the"Group") as part of a transaction incorporating a new investor, the Fonds Stratégique d’Investissement. The transaction is aimed at financing projects to develop the Group.
Funds advised by Motion Equity Partners (“MEP”), one of the leading European private equity firms, announced a diversification of the shareholder base of Tokheim which saw the Fonds Stratégique d’Investissement (“FSI”) (French Sovereign Fund) take up an equity stake. Together Funds advised by MEP and the FSI will continue the Group’s ambitious growth policy while completing the bank refinancing. Funds advised by Motion and the FSI have together invested approximately €80 million which will enable Tokheim actively to pursue its development through organic growth and acquisitions in promising geographies.
Tokheim, headquartered in Paris, enjoys a key market position, offering a one-stop-shop solution of fuel dispensers for service station operators. With a turnover of € 643 million in 2012, the group provides fuel distributors with a complete range of products and services, covering equipment (dispensers, systems), maintenance, installation and project management. Tokheim serves three main client groups: oil companies, hypermarket and supermarket distributors and independent fuel retailers.
Tokheim is well established across Europe, where it enjoys an undisputed market leader position. The company is also a leading player in Asia, with a strong position in China where it has vigorously developed itself in the past five years, as well as in Africa and the Middle East. Tokheim has factories in the United Kingdom, China and India and employs more than 5,000 people across the world.
This new equity investment provided by Funds advised by Motion and the FSI, along with the simultaneous bank refinancing, occurs in a period when the business is developing at a high pace and will support its continued growth through:
- acquisitions in emerging countries;
- development of greenfield projects abroad; and
- strategic joint venture with third parties, where Tokheim can leverage on the third party’s local knowledge and expand its products and services.
Cedric Rays, Partner at Motion Equity Partners commented: "Tokheim Group is a world leader in fuel distribution. It has managed to grow worldwide through excellence in technology and proficiency of the entire value chain from fuel distributors to their maintenance, from gas stations software to payment systems. Motion Equity Partners is pleased to continue supporting Tokheim Group in its ambitious development projects."
Baudoin de la Tour, CEO of Tokheim added: "In an uncertain financial environment, it is important for clients, employees, and for the management team of Tokheim to strengthen our financial structure and secure our long-term resources to ensure our continued expansion. We are pleased to welcome the FSI as a shareholder alongside Motion and encouraged by their trust and significant investment."