Gilbarco (which does business as Gilbarco Veeder-Root) supplies gas stations with retail point-of-sale (POS) computer systems, including gas pumps, tank monitoring, and credit card processing equipment from manufacturing plants located in the US. It sells through a network of distributors and affiliates worldwide. Customers include convenience stores, fuel retailers, truck fleet operators, car rental companies, and local governments. The company is also a leading rebuilder of fuel dispensing equipment. Gilbarco is a subsidiary of Danaher, which owns related businesses fuel management systems maker Veeder-Root and petroleum dispensing system vendor Gasboy.
Other companies in the Gilbarco family include Red Jacket, which manufactures pumps that control the flow of petroleum to a vehicle's gas tank, and DOMS, which manufactures controllers for gas pumps and drive-through car washes. Subsidiaries outside the US include Finland's Autotank and New Zealand-based Postec. Autotank provides outdoor payment systems for fuel retailers in Scandinavia and Eastern Europe while Postec offers software and hardware that lets fuel retailers automate and manage their sites and networks.
In addition to fuel pumps and dispensers, Gilbarco sells retail-focused products such as its Passport POS (which includes pay-at-the-pump systems and integrated color screens for advertising), as well as self-service kiosks and kitchen management systems for customers with food service operations.
Gilbarco markets its products worldwide. It has manufacturing, research, and development facilities in Argentina, Australia, Brazil, China, Germany, Italy, the UK, and the US.
Gilbarco is working with VeriFone Systems Inc., which makes electronic payment systems, to develop pay-at-the-pump systems and to create the largest at-pump interactive digital media network worldwide. VeriFone is developing new fuel dispenser payment platforms to meet convenience and fuel retailers’ functionality and regulatory needs and offer at-pump media advertising and entertainment.
Gilbarco also adds and expand capabilities through acquisitions.
Mergers and Acquisitions
Gilbarco made acquisitions in 2014 to expand its fueling capabilities and its media-at-the-pump offerings.
It acquired ANGI Energy Systems, a designer and assembler of compressed natural gas (CNG) systems for vehicle fueling. Gilbarco is betting on the expansion of CNG as a fuel choice, particularly from municipal and home-based stations as well as retail locations.
With the acquisition of Outcast Media, Gilbarco boosted its video-at-the-pump offerings. Outcast will operate as the media business unit of Gilbarco, giving the combined company an opportunity to create the largest network for reaching on-the-go consumers. Gilbarco and Outcast plan to introduce new forms of media designed to increase convenience store sales and give consumer something to watch while fueling. Outcast’s national network reaches a monthly audience of 36 million viewers measured by Nielsen, which rivals the delivery of top broadcast TV shows. The network will now have more immediate access to Gilbarco’s customer base of over 60,000 retail fueling stations and is expected to reach more than 100 million monthly viewers over the next two years.
The company traces its roots back to 1870 when it was originally formed as Gilbert & Barker before being renamed Gilbarco in 1929. GEC (which later became Marconi, and then telent) acquired the company in 1987, and sold it to Danaher in 2002.