FleetCor further expands European presence by acquiring second European Fuel Card Company
Adds Advent International to Its Investor Group
Atlanta, GA - October 11, 2006 - FleetCor, the Global Fleet Card Company, announced today that it has acquired CCS, the market leading fuel card operator in the Czech Republic. FleetCor acquired CCS from Advent International, a global private equity firm, in a cash and stock transaction. Advent International will join FleetCor's institutional investor group and take a seat on FleetCor's Board of Directors.
CCS is the number one fuel card operator in the Czech Republic, serving 23,000 fleets of all sizes. This is the second European fuel card provider acquired by FleetCor this quarter; they purchased Keyfuels, a leading fuel card operator in England, in early September.
Commenting on the transaction, Advent International Director Chris Mruck said: "FleetCor is the perfect partner for CCS because it is an entrepreneurial company with big ambitions, excellent management and a strong track record of well-executed strategy. We are delighted to be continuing as shareholders in the enlarged FleetCor, bringing to it our experience of building businesses in Central and Western Europe.
"We are continuing to make progress in executing our plan to build a worldwide fuel card company," said Ron Clarke, FleetCor's Chairman and CEO. "We plan to work closely with Advent International to identify other fuel card acquisition opportunities in Europe."
As of this acquisition, FleetCor processes for over 500,000 business fleets, further extending FleetCor's worldwide fuel card leadership position.
About Fleetcor
FleetCor, headquartered in Atlanta, was established in 2000. It is one of the leading providers of commercial fleet card issuing and processing services in North America. FleetCor's card programs are marketed throughout the U.S. and Canada under a variety of private-label and proprietary brand names, including BP, Citgo, Fuelman, FleetNet, FleetSource, CFN, and Mannatec. FleetCor Technologies, Inc., and its subsidiaries currently employ over 450 employees, processing 145 million transactions on 2.4 million cards for 358,000 fleets through its Fleet Operator, Petroleum Marketer, Major Oil Private Label and Co-brand businesses. For more information on FleetCor, visit the company's web site at www.fleetcor.com.
About Advent International
Advent International (www.adventinternational.com) is one of the world's leading private equity firms, with $10 billion in cumulative capital raised and offices in 13 countries across North America, Western and Central Europe, Latin America, and Asia Pacific. Since its inception in 1984, Advent has invested in over 500 companies and has helped businesses raise $10 billion through public equity and debt offerings. These include 130 IPO's on major stock exchanges worldwide.
About CCS
CCS (www.ccs.cz) was established in 1991 by its management team and is the leading fuel card issuer and processor in the Czech Republic and Slovakia. Servicing over 23,000 corporate customers, CCS enjoys 100% coverage of the Czech Republic's petrol station network and 50% coverage in Slovakia.
Media requiring further information, please contact:
Keka DasGupta / Richelle Wilcox
DDB Public Relations
416.972.7727 / 416-972-7787
keka.dasgupta@can.ddbpr.com / richelle.wilcox@can.ddbpr.com
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