FleetCor Adds New Zealand's Cardlink to its Portfolio
The Spencer family, whose fortune was originally built on the Caxton paper empire, has sold its CardLink Systems fuel card programme to FleetCor Technologies for an undisclosed sum.
Georgia-based FleetCor has added the New Zealand company a month after buying GE Capital's Australian Fleet Card business, as part of growth plans into the Asia-Pacific, it said in a statement.
CardLink markets fuel cards mainly to small and medium sized businesses, and offers processing and outsourcing services to oil companies and other partners.
"The addition of CardLink to our portfolio provides a great base to develop a real presence in the Asia Pacific region," Cardlink Chairman and Chief Executive Ron Clarke said. "This operating base will create the presence to potentially help our global oil partners in the region."
Auckland-based CardLink was set up in 1984, starting in fuel card management and full charge card facilities, total fleet management, taxi management systems, and complex loyalty operations, according to its website.
The company was ultimately owned by the Spencer family's Clime Group before the sale.