AXA Private Equity sells Tokheim to Electra Partners Europe for €250m

Tokheim develops, manufactures and sells fuel distribution dispensers, automated payment systems, and operates in the construction and maintenance of service stations. The company's customer base includes large petrol companies, retail chains and independent petrol retailers.

AXA Private Equity completed the management buy-out of Tokheim in 2003 in a deal that was worth close to €150m.

Frédéric Collard, AXA Private Equity LBO funds director, said, 'Under the management of Patrick Berthon the Tokheim team has delivered a great job. With our support it has transformed the European leader we acquired in 2003 into a top-tier player, which has not only strengthened its leadership in Europe, but also set foot in two major Asian countries. We are very happy that Patrick Berthon's team is able to continue this strategy focused on international expansion with Electra.'

Patrick Eisenchteter, partner at Electra Partners Europe, added, 'The growth opportunities in this market, the pressure of increasing regulation and strict servicing requirements in the petrol distribution industry, all play to Tokheim's strengths, and we look forward to working with management to further develop the business.'

AXA Private Equity, a subsidiary of AXA Investment Managers, currently has €7bn under management.

Electra Partners Europe advises funds in excess of €2bn.

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