FleetCor acquire rival ReD
FLEETCOR, parent of Knaresborough-based The Fuelcard Company, has acquired Retail Decisions’ (ReD) operations in the UK and Ireland.
The deal, for an undisclosed sum, includes all of ReD’s fuel card operations in the UK and Ireland, including ReD’s network of UK fuel bunkering outlets and will add 15,000 new business fleet customers to FleetCor’s operations.
FleetCor Europe chief executive Andrew Blazye, said: “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 existing and new customers and partners via a larger acceptance network.”
Since it was founded in 1984, Retail Decisions has grown to become a leading fuel card reseller, enjoying partnerships with major oil companies.
Carl Clump, chief executive of Retail Decisions, said: “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 11 European markets, including: the UK, Ireland, Netherlands, Belgium, Luxembourg, Czech Republic, Slovakia, Russia, Poland, Lithuania, and the Ukraine.
ReD will sit alongside FleetCor’s UK operations The Fuelcard Company, which is one of the UK’s largest and fastest growing commercial fuel card resellers, and Keyfuels, the largest fuel bunkering network of its kind in the UK.
Ron Clarke, FleetCor’s chairman and chief executive, 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.”
