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GREENSBORO, N.C., May 17, 2017 -- Gilbarco Veeder-Root has signed a definitive agreement to acquire Orpak Systems Limited, subject to customary conditions to closing. Headquartered in Bnei Brak, Israel, Orpak delivers extensive technology solutions to oil companies and commercial fleets. Orpak has over twenty-five years of experience and a global track record of successful innovation and adaptation to diverse customer needs in emerging markets. Orpak will join forces with Gilbarco Veeder-Root’s retail and commercial fueling operations, allowing the combined company to offer the most innovative and comprehensive suite of systems for retail and commercial fueling operations.
The acquisition signals Gilbarco’s commitment to expanding its presence in high growth markets and to leveraging Orpak’s technologies relative to automating station and fleet management systems. “Orpak is an important part of our future growth engine. The Orpak team brings valuable expertise into the Gilbarco Veeder-Root family, allowing us to accelerate technology advancements,” said Martin Gafinowitz, President, Gilbarco Veeder-Root. “They also bring a team of highly skilled associates, a quality operation and a strong portfolio of customers that we look forward to serving.”
Orpak President and CEO, Shay Bakfan, noted, “Gilbarco has been an important Orpak partner for many years. This merger is a step forward for Orpak and an excellent opportunity to increase our reach through Gilbarco Veeder-Root, bringing our unique value to more markets.”
Gafinowitz added: “Orpak helps Gilbarco Veeder-Root solidify its position as a technology leader. I look forward to working closely with Shay and the Orpak leadership team to help us achieve our goals.”
Orpak will become part of Gilbarco’s organization, in a new division that will maintain the Orpak name. The division will continue to operate from its existing facility in Israel and subsidiaries around the world.
ABOUT GILBARCO VEEDER-ROOT
Gilbarco Veeder-Root is the worldwide technology leader for retail and commercial fueling operations. It offers the broadest range of integrated solutions from the forecourt to the convenience store and head office. For more than 150 years, Gilbarco has earned the trust of its customers by providing long-term partnership, uncompromising support and proven reliability. Gilbarco supports the business goals and maximizes the bottom lines for 19 of the top 20 convenience store operators in the U.S. For more information, please visit www.gilbarco.com.
ABOUT ORPAK SYSTEMS
Orpak Systems delivers comprehensive solutions to oil companies and commercial fleets, improving profitability and optimizing performance from the forecourt to the head office. The company’s hardware, software, and services enhance the entire retail fuel network and fleet management value chains, be it the single fuel transaction, retail network optimization or business analytics. Orpak has a 25-year track record of success and innovation. Known for rapid deployment of large end-to-end projects, its field-proven products are installed in more than 35,000 service stations and 7 million vehicles across 60 countries. Orpak solutions are distributed via an international network of subsidiaries and value-added partners. For more information, contact the company at [email protected] or visit www.orpak.com.
For additional information please contact: Flavio Mello Director, Marketing Communications Gilbarco Veeder-Root Phone: (336) 547-5000 Email: [email protected]
