FleetCor, a Norcross, Ga.-based provider of branded fuel cards, has acquired the UK and Ireland fuel card businesses of Retail Decision. No financial terms were disclosed. FleetCor shareholders include Summit Partners, Advantage Capital, Advent International, Nautic Partners, HarbourVest Partners and Performance Equity Management.
Atlanta – FleetCor, the Global Fleet Card Company, announced today that it has acquired the UK and Ireland fuel card businesses of Retail Decisions (ReD). The acquisition includes all of ReD’s fuel card operations in the UK and Ireland, including ReD’s network of UK fuel bunkering outlets.
FleetCor Europe CEO Andrew Blazye commented, “We are delighted to announce this significant acquisition for FleetCor Europe. It demonstrates FleetCor’s continued commitment to the UK and Ireland, and will provide significant benefits to our customers and partners via a larger acceptance network.”
Carl Clump, CEO of Retail Decisions, remarks, “FleetCor is a leader in the UK fuel card market, and will make a logical home for our UK and Ireland commercial fleet card customers, partners, and employees.” Retail Decisions is majority owned by private equity mid-market specialist Palamon Capital Partners.
The acquisition of ReD’s UK fuel card business marks the ninth European acquisition that FleetCor has made since 2006. FleetCor operates in eleven European markets, including: the UK, Ireland, Netherlands, Belgium, Luxembourg, Czech Republic, Slovakia, Russia, Poland, Lithuania, and the Ukraine.
Ron Clarke, FleetCor’s Chairman and Chief Executive Officer commented, “This deal is an excellent fit. ReD’s business slots together very well with FleetCor’s existing UK businesses. The combination has significant complementary strengths. We are continuing to execute on our business strategy of growing FleetCor through expansion into international markets.”
FleetCor (www.Fleetcor.com), The Global Fleet Card Company, is the worldwide leader in managing and processing commercial fuel cards, which save businesses money on their fuel purchases while bringing incremental business to fuel merchants. FleetCor serves over 750,000 businesses with its fleet card programs in North America, Europe, Asia and Africa. FleetCor’s card programs are marketed under a variety of brand names including: CCS, CFN, Fuelman, The Fuelcard Company, Keyfuels, Mannatec and PPR. FleetCor and its subsidiaries employ more than 1,100 associates located in 20 offices globally. FleetCor is privately owned by management, and a group of institutional private equity investors including Bain Capital, Summit Partners, Advent International, Advantage Capital, Nautic Partners, HarbourVest Partners, and Performance Equity Management.