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. PW170517