FleetCor Acquires Eastern European Fuel Card Company
ATLANTA --- FleetCor, a global fleet card company, has acquired CCS, a 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 biggest 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. The company purchased Keyfuels, a leading fuel card operator in England, in early September. "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." With this acquisition, FleetCor processes for over 530,000 business fleets.