Tokheim

In April 2003, AXA Private Equity took control of Tokheim, European leader in petrol pumps and a specialist in running petrol stations. In view of its dependence on technology specific to Europe, Tokheim has always been very independent from its parent company which sought protection from its creditors in 2002 under the US law on company liquidation (“chapter 11”). This operational autonomy was a key factor in winning the divestment process in which AXA Private Equity had been retained as “stalking horse”. AXA Private Equity also contributed to value creation by assisting the management team led by Patrick Berthon in his policy of resource optimisation and acquisition strategy, before passing over control of the company in December 2005 to Cognitas.