Company plans to buy Janesville-based ANGI Energy Systems
JANESVILLE—A pending sale of a Janesville manufacturer of compressed natural gas systems should allow for continued local growth, the company's president said Monday.
The North Carolina-based Gilbarco Veeder-Root plans to buy ANGI Energy Systems, which moved with its 160 employees from Milton to Janesville in 2012.
ANGI, which moved into the former ThyssenKrupp/Gilman plant on Delavan Drive, now has about 260 employees.
With more than 30 years experience in compressed natural gas system design and manufacturing, ANGI will join forces with Gilbarco, allowing the combined company to offer what it calls the most comprehensive suite of compressed natural gas dispensing, fuel management and distributed control systems.
"The industry is growing really fast, and we're at the point in our growth cycle and the evolution of industry itself where it's starting to mature and some consolidation is expected," ANGI President John Grimmer said.
"The prognosis for Janesville is very good. This allows for a platform of continued growth in Janesville, where we've been on a pretty high-growth trajectory.
"We don't foresee that changing in the near term."
Stephen Moule, president of Gilbarco North America, said the ANGI team will add valuable expertise, technology advancements and manufacturing excellence.
"They also bring a team of highly skilled associates, a quality operation and a strong portfolio of customers that we look forward to serving," he said.
Moule said the acquisition signals Gilbarco's commitment to support the growing compressed natural gas market and its increasing importance as a transportation fuel, with significant expansion potential from municipal and home-based stations as well as retail installations.
Grimmer said his company has grown because of consumer demand.
“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,” Grimmer said. “We found all that and more with Gilbarco.”
ANGI will become part of Gilbarco but be a separate division that will retain the ANGI name.