FleetCor Technologies history

In 2002, Boston-based venture capitalist Summit Partners invested $45 million in FLEETCOR to expand and “[recruit] major regional and national convenience stores into the fleet program.”

In 2003, FLEETCOR merged with Commercial Fueling Network (CFN) to create “the industry’s leading fleet card processing business, focused on serving the needs of petroleum marketers and business fleet operators.” The following year, FLEETCOR acquired Mannatec Inc.

Bain Capital invested $75 million in FLEETCOR in 2006, thus giving the company the capital to expand its presence across Europe.

In 2009, FLEETCOR acquired Corporate Lodging Consultants (CLC), a provider of workforce travel savings and solutions for companies.

In 2010, FLEETCOR went public, debuting a $335 million Initial Public Offering (NYSE: FLT). That year, it renewed the British Petroleum (BP) United States fleet card contract and acquired Carnet, a Czech Republic provider of telematics solutions.

FLEETCOR won the $300 million Shell Europe/Asia fleet card processing contract (with Logical) in 2011 and acquired Mexico’s Efectivale (a fuel and food payments services company) and acquired AllStar Business Solutions (fuel card provider in the UK market) for $304 million.

FLEETCOR continued its global expansion in 2012 by acquiring a leading fuel card systems company in Russia and CTF, a fuel payment processing services provider in Brazil, for $180 million.

FLEETCOR also signed three deals in 2013, with GE Custom Fleet in Australia, Good Card, a leading Brazilian fuel card network operator, and Husky Oil Limited.

BP awarded FLEETCOR a long-term contract in 2015.

FLEETCOR acquired Travelcard (universal fuel card issuer in the Netherlands) and Sem Parar (electronic toll payments company in Brazil) in 2016, and FLEETCOR signed an agreement to manage the commercial fuel card program for Speedway LLC (Speedway) the same year.

FLEETCOR joined the Fortune 1000 in 2017, and expanded to Italy with minority investment in Qui! Group, an Italian-based provider of food voucher and card solutions.