Dover Acquires Bulloch Technologies Inc.

Bulloch company processes over 520 million transactions annually at 7,000 sites throughout Canada.

February 05, 2024

Dover announced it has completed the acquisition of Bulloch Technologies Inc., a provider of point-of-sale, forecourt controller and electronic payment server solutions to the convenience retail industry for 150 million Canadian dollars.

Bulloch will become part of the Dover Fueling Solutions (DFS) operating unit within Dover's clean energy and fueling segment.

Headquartered in Toronto, Ontario, Bulloch is a supplier of POS and related digital solutions and services to the convenience retail industry in Canada, serving many of the largest retailers in the country, according to the press release.

The company processes over $35 billion in sales and 520 million transactions annually at 7,000 sites throughout Canada.

DFS President David Crouse said, "The acquisition of Bulloch is highly strategic for DFS and expands our offering in North America with complementary point-of-sale and forecourt solutions. POS systems are central to the operation of convenience retail and enable multiple innovative loyalty and commercial technologies available through DFS' Wayne dispensers. DFS will support Bulloch's expansion in the U.S. market, leveraging our sales channels and service infrastructure, and we look forward to offering our customers world-class end-to-end solutions in 2024."

Crouse added, "This transaction has all the hallmarks of a successful bolt-on acquisition, which are integral to Dover's growth strategy. It adds an attractive digital and recurring revenue stream to DFS in a growing market where customers are increasingly digitizing their operations and payment security and compliance standards are continually increasing. Additionally, our strong presence in the U.S. convenience retail industry offers credible growth and synergy opportunities to support attractive shareholder value-creation."

In October 2023, DFS released its second annual Future of Fueling Report, which found customer experience as the driving factor for fuel selections.