RLPC-Cognetas Seeks Buyer for Tokheim
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Thursday, 22 September 2011 |
 RLPC-Cognetas, the private equity owner of Tokheim, is looking to find a buyer for the fuel service station equipment provider, according to Reuters. Citing “sources familiar with the matter”, Reuters claims that RLPC-Cognetas are looking to achieve a sale price of €400m.
JP Morgan are reported to be managing the sale, with first-round bids due in October, while Marlborough Partners has been mandated to co-ordinate a stable financing package.
Cognetas had purchased Tokheim in 2005 for roughly €250m, and saw revenues grow significantly over the following six years: from sales of €360m in the year to April 2005, Tokheim achieved €590m worth of sales in the twelve months to April 2011. Marlborough Partners and Cognetas have yet to comment on the story.
PetrolWorld 220911 Source: Reuters
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