PARIS, France (14 June 2012) – Tokheim, one of the world’s leading manufacturers and service providers of fuel dispensing and retail automation equipment, and their majority shareholder, Motion Equity Partners (previously known as Cognetas), are pleased to announce that they have reached agreement with a consortium of 8 international banks to refinance the existing debt package of the Company, reducing its leverage and extending its maturity until 2019. At the same time, Motion, together with a new minority shareholder (FSI, Fonds Strategique d’Investissement) will bring in excess of €80 million of additional equity to support further the strategy and continued growth of the company.
Tokheim is well recognised and respected for the expertise, technology, innovation and quality it consistently delivers to the retail and commercial fuels distribution industry, and benefits from well established and successful relationships with a wide portfolio of customers such as major and national oil companies, hyper-super markets and many others across the independent sector.
Tokheim’s Chief Executive Officer, Baudouin de la Tour, said “This refinancing agreement, coupled with a significant equity injection by our highly supportive and committed shareholders, allows the Company to remain focused on operational execution and on long term, sustainable growth. The package ensures that we have appropriate funding in place with a profile that will reduce the debt leverage and provide additional cash resources for growth, both organic and through acquisition. We strive to continue to deliver best in class solutions across the markets and segments in which we operate and this is an important step in further strengthening the overall positioning of Tokheim”.
He added that the Company has identified key areas and exciting projects for delivering organic and external growth again in 2012 and beyond, after 6 years of continued expansion. He said “Our customers have come to expect new and innovative ways for us to improve continuously our quality and efficiency. We remain committed to delivering added value despite challenging market conditions and we will continue to contribute to the success and profitability of our customers by offering solutions that improve their own efficiency and return on assets”.
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Tokheim Group S.A.S., based in Paris, France, is one of the world’s leading manufacturers and service providers of fuel dispensing and automation equipment. With operations in many countries around the globe, Tokheim offers customers a complete range of fuel dispensers and pumps, retail automation systems, payment terminals, media devices, replacement parts and upgrade kits, and a full range of support services, including maintenance, service station construction and project management. For more information, visit www.tokheim.com.