Fleetcor Technologies, Inc. (FLT) Announces Acquisition of Travelcard Nederland

August 5, 2016 6:06 AM EDT

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FleetCor Technologies, Inc. (NYSE: FLT) announced that it has acquired Travelcard Nederland B.V., a leading universal fuel card issuer in the Netherlands, from LeasePlan Corporation N.V.

“We are excited to announce this transaction with LeasePlan, one of our most important partners. They have built a terrific business in Travelcard, and we welcome the Travelcard team to FleetCor. This transaction supports our objective of establishing meaningful positions in the largest Continental European countries. We look forward to continuing Travelcard’s success and to marketing it more broadly to a wider audience,” said Ron Clarke, chairman and chief executive officer of FleetCor Technologies, Inc.

Travelcard, founded in 1986 by LeasePlan, issues fuel cards and provides complementary services to its customers to pay for other mobility-related services. Travelcard’s industry-leading products serve the needs of fleet operators and a variety of other businesses in the Netherlands, including some of the country’s largest leasing companies. The company operates its proprietary universal network throughout the Netherlands at nearly all fueling stations as well as significant portions of Belgium and Luxembourg. Travelcard has close to 300 thousand active fuel cards in the market.

The terms of the acquisition were not disclosed.

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