Dover completed its previously announced acquisition of Wayne Fueling Systems (Wayne) on December 12, 2016.
Wayne is a global provider of fuel dispensing, payment, automation, and control technologies for retail and commercial fuel stations. Wayne’s advanced payment and systems solutions position the company to capitalize on the conversion of US-based fuel retailers to Europay, MasterCard and Visa (EMV) chip security technology.
Robert A Livingston president and CEO of Dover said, “I am very pleased we have been able to close this transaction in 2016. We are well prepared to start integration activities, which will be of paramount importance to us in the coming year. We expect Wayne to be solidly accretive in 2017, including costs to achieve synergies and normal purchase accounting amortization costs.
“The addition of Wayne now enables us to deliver a true end-to-end solution to the global retail fueling market, and our entire team is excited about serving our customers worldwide with our expanded portfolio of products,” Mr Livingston said.
The acquisition of Wayne is Dover’s fourth acquisition in the retail and commercial fueling space since the beginning of 2016.
Dover is now combining these companies into a new business called Dover Fueling Solutions (DFS), which includes: Wayne, Tokheim, ClearView, Fairbanks, ProGauge and OPW’s Fuel Management Systems.
The focus of DFS will be to deliver advanced fuel dispensing equipment, electronic systems and payment, automatic tank gauging and wetstock management solutions to customers worldwide. The combined product portfolio of DFS and OPW represents the industry’s only global end-to-end fueling solution.
Former president of OPW David Crouse has been named president of the DFS business. “DFS is comprised of the most trusted names in the fueling industry who have been leaders in driving innovation for more than 100 years,” Mr Crose said.
“The company will work alongside OPW, to provide the full spectrum of products and services to our global customers.”
Dover Fueling Solutions will be headquartered in Austin, Texas and will have a significant manufacturing presence around the world, including facilities in the USA, the UK, the Netherlands, Sweden, France, India, China, and Brazil.