Atlanta, Georgia - 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, (www.Fleetcor.com), the Global Fleet Card
Company, was established in 2000 in Atlanta, Georgia. FleetCor is privately
owned by a group of institutional private equity investors, including Bain
Capital, Summit Partners, and Advent International. FleetCor is the worldwide
leader in fuel card processing serving over 500,000 business Fleets and
approximately 3 million cardholders in the US, Canada, and Europe. FleetCor’s
card programs are marketed under a variety of brand names including:
CCS, CFN, Keyfuels, FleetNet, FleetSource, FleetWide, Fuelman and Mannatec.
FleetCor and its subsidiaries employ over 700 associates located in 20 offices.
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.
For further information:
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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