Global fuel services group Gilbarco Veeder-Root (Gilbarco) will acquire local fuel management technology group Automated Fuel Systems (AFS) to strengthen the products and services offered by both companies in the Southern Africa market.
The acquisition, which had been approved by the South African Competition Commission, was subject to customary closing conditions, which would be fulfilled by May.
AFS – a long-time distributor of Gilbarco products – provided wet-stock management, automated refueling and maintenance services to retail and commercial customers, including mines and government agencies.
Gilbarco Europe, Middle East and Africa president Stephen Moule said AFS’s well-established position in the South African market would strengthen the group’s product and solution offering in the retail forecourt market, as well as enable it to expand into new market segments such as mining and commercial fueling.
AFS group CEO Tony Warrener added that the agreement would allow AFS to enhance its offerings to customers and would facilitate its growth strategy across Southern Africa.
“Combining our expertise and resources is a logical fit for both companies,” he commented.
AFS would continue to operate from its existing facilities in Johannesburg and throughout South Africa, with Warrener remaining in his position.