FleetCor Technologies, a Norcross company that provides fuel cards and payment products to companies, said Tuesday it acquired a British firm for $304 million.
FleetCor acquired AllStar Business Solutions Ltd., which also provides fuel cards for business fleets, from The Arval Group with available cash and existing credit lines. In addition to the acquisition, FleetCor said it has entered into a partnership with Arval to provide payment services through AllStar, FleetCor said in announcing the deal.
AllStar serves 40,000 clients, many small-to mid-sized companies in the U.K.
Ron Clarke, FleetCor chairman and chief executive the AllStar acquisition “is consistent with our global acquisition strategy of identifying attractive assets with performance upside.”
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