Gilbarco Veeder-Root Explores Strategic Alternatives with TSG for European Service Business

Gilbarco Veeder-Root, a leader in retail and commercial fueling technologies, has made the strategic choice to align with TSG, which specializes in maintaining energy distribution infrastructures. This partnership is poised to benefit customers by leveraging TSG's expertise in various mobility solutions, including fuel/biofuel service stations, electric vehicle charging networks, and alternative fuels such as LPG, LNG, and hydrogen.

Dave Coombe, President of Gilbarco Veeder-Root, expressed optimism regarding the discussions, stating, “Gilbarco Veeder-Root sees significant benefits from this potential transaction with strengthening our existing relationship with TSG.” He emphasized that the implementation of this agreement would not only enhance TSG’s footprint in the selected countries but also solidify Gilbarco Veeder-Root's collaboration with a trusted partner in the sector.

The eight countries involved in this potential divestment include the United Kingdom, Denmark, Finland, Norway, Sweden, Estonia, Latvia, and Lithuania. Gilbarco Veeder-Root currently holds a unique position in Europe as the only original equipment manufacturer with an in-house service team, a status that could change depending on the outcome of these discussions.

Should the divestiture proceed, Gilbarco Veeder-Root plans to utilize TSG's extensive market presence and operational experience in these regions to ensure a seamless transition. This move is expected to maintain, if not enhance, the quality of service provided to customers, thereby safeguarding their interests in a rapidly evolving market.

Jean-Marc Bianchi, CEO of TSG, highlighted the opportunities presented by this potential partnership, indicating that it would allow TSG to expand its operational capacity, particularly in Northern Europe. Bianchi stated, “Through our premium maintenance services, we aim to enhance our operational reach and further develop our position across the European market.” This sentiment points to TSG’s ambition to solidify its role as a leading service provider in the evolving landscape of mobility solutions.

Gilbarco Veeder-Root has been a pioneer in the fueling industry for over 150 years, offering a comprehensive range of integrated solutions designed for retail and commercial operations. Their product portfolio includes fuel dispensers, tank gauges, and fleet management systems. The company prides itself on long-term partnerships and unwavering support, building trust with its customers across the globe.

Founded as a leader in technical services for responsible mobility, TSG operates in 30 countries and is instrumental in the energy transition for mobility. With over 6,000 employees, TSG generated an impressive annual revenue of one billion euros as of April 2024. The company's technicians possess recognized expertise across various energy solutions, including electric vehicles, hydrogen, and biofuels, which positions TSG as a one-stop-shop for innovative energy and retail solutions.

As Gilbarco Veeder-Root embarks on this strategic exploration with TSG, both companies stand to gain from the partnership, enhancing their operational capabilities and better serving their customers across Europe. The unfolding discussions will be closely monitored by industry analysts and stakeholders, as they could reshape the service landscape in the energy distribution sector in the coming years.