Majority stake in fuel card business to be acquired for £95m
An 80% stake in a Leeds-based fuel card program business is to be acquired in a deal worth £95m deal.
French firm Edenred is expected to complete the purchase of The Right Fuelcard Company (TRFC) from Rontec and the Bayford group by early 2019, subject to the approval of the UK competition authority.
The TRFC group, based in Leeds and Glasgow, is expected to generate more than £11m in EBITDA in 2018.
The company’s 150,000 cardholders can fill up at 90% of UK service stations using monobrand fuel cards, such as the euroS... For the full story register now for free or login below...