FRANCE - Cognetas backs Tokheim acquisition of Rohé subsidiaries

The deal involves Rohé's subsidiaries in Serbia, Bulgaria, Romania, Latvia and Lithuania. Tokheim will now hold a 52% stake in the Serbian, Bulgarian and Romanian units, and a 67% interest in the Latvia and Lithuania subsidiaries.

Rohé, an Austrian company specialised on services regarding petrol stations, was put into liquidation after financial difficulties suffered by its Germany and Austrian divisions. The purchase makes strategic sense since Rohé has been the distributor of Tokheim's products in Serbia, Bulgaria and the Baltic over the past ten years.

The five subsidiaries, with a combined workforce of 340, are expected to generate turnover of EUR 30m in 2009.

Paris-based Tokheim offers a one-stop-shop solution of fuel dispensers for service station operators, including service and maintenance, dispensing systems, automated payment solutions and construction. The company generated a turnover of EUR 505m in 2009.

Cognetas originally backed the secondary buyout of Tokheim from AXA Private Equity for EUR 250m in November 2005, taking an 83% stake in the company.

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