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About Gilbarco Inc.

Gilbarco (which does business as Gilbarco Veeder-Root) supplies gas stations and convenience stores with retail point-of-sale (POS) computer systems, gas pumps, pump media (video screens and audio), tank monitoring, fleet management systems (through the Gasboy brand), and credit card processing equipment. It also offers chargers for electric vehicles. Products for inside the store include POS systems and foodservice ordering equipment. Gilbarco sells through a network of distributors and affiliates worldwide. Customers include convenience stores, fuel retailers, truck fleet operators, car rental companies, and local governments. Gilbarco is a subsidiary of Fortive.

Strategy

Gilbarco is working a two-pronged growth scenario. In the US, the company is equipping gas stations and convenience stores with technology to accept credit cards with chips (which are more secure than striped cards). Fueling retailers are racing to a 2020 upgrade deadline. In 2018, Gilbarco won a major deal to supply chip-reading equipment to Murphy USA i addition to work for Shell and Chevron.

In India, Gilbarco supplies submersible pumps and automatic tank gauges as fueling retailers install double-walled tanks, which are more environmentally friendly. The combination of Gilbarco and Orpak product offerings helped drive growth in India. Orpak, based in Israel and acquired in 2017, generates more than 50% of its revenue from software for automating station and fleet  management systems. The acquisition of India-based Midco, which makes fuel dispensers and related fueling station equipment in 2018, also boosted operations in India.

 

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.

Company Background

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.

Gilbarco Inc.

7300 W FRIENDLY AVE
Greensboro, NC 27410-6200
Phone: 1 (336) 547-5000

Stats

Employer Type: Privately Owned
EVP and CFO: Daniel Comas
Managing Director: Francis Yap
Employees (This Location): 1,500
Employees (All Locations): 3,600

Major Office Locations

Greensboro, NC

Other Locations

Union City, CA