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GREENSBORO, N.C. -- Gilbarco Veeder-Root made a big bet on the future of compressed natural gas (CNG). The company signed a purchase agreement to acquire ANGI Energy Systems LLC pending final closure of the deal, the terms of which were not disclosed.
ANGI designs and assembles CNG systems for vehicle fueling. According to a Gilbarco news release, the acquisition signals its commitment to support the growing CNG market and its increasing "importance as a transportation fuel."
“ANGI’s team brings valuable expertise into the Gilbarco family, allowing us to accelerate technology advancements and manufacturing excellence in natural gas fueling,” said Stephen Moule, president of Gilbarco North America. “They also bring a team of highly skilled associates, a quality operation and a strong portfolio of customers that we look forward to serving.”
ANGI will become a division of Gilbarco, but will maintain the ANGI name. It will also continue to operate out of Janesville, Wis.
“ANGI continues to grow rapidly due to customer demand," said John Grimmer, president of ANGI. "To keep pace, we looked for a strategic partner with systems, processes and people to support our employees and customers as the industry builds out. We found all that and more with Gilbarco.”
Once the transaction closes, the companies will integrate the ANGI CNG system with Gilbarco's Encore CNG Dispenser. According to Gilbarco, this will allow commercial customers to benefit from fleet management system functionality and integration with the ANGI system.
Greensboro, N.C.-based Gilbarco Veeder-Root is a global technology provider for retailers and commercial fueling operations.