FleetCor Acquires Fuel Card Issuer in the Netherlands
FleetCor Technologies, Inc., a global provider of fuel cards and workforce payment products to businesses, has acquired Travelcard Nederland B.V., a universal fuel card issuer in the Netherlands, from LeasePlan Corporation N.V.
“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 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 at nearly all fueling stations in the Netherlands, and in significant portions of Belgium and Luxembourg. Travelcard has close to 300 thousand active fuel cards in the market, according to the company.
The terms of the acquisition were not disclosed.