Acquisition Named Foreign Inbound Deal of the
Year
TORONTO, March 16, 2018 /CNW/ - FLEETCOR Technologies,
Inc. (NYSE: FLT), a leading global provider of commercial payment
solutions, today announced that the Company has been recognized by
the Canadian Dealmakers in the category of Foreign Inbound Deal of
the Year. This award is related to its acquisition of Cambridge
Global Payments, a leading B2B international payments provider
based in Toronto. The Canadian
Dealmakers Awards, a joint venture between Deloitte, The Globe
and Mail, Lexpert and Thomson Reuters, recognizes those who have
made a significant contribution to the Canadian M&A market in
the past year.
FLEETCOR completed the acquisition of Cambridge in August
2017 for approximately $690
million. By acquiring Cambridge, FLEETCOR entered the $145 billion B2B cross-border payments market,
adding a complementary international component to FLEETCOR's
domestic payment processing system. The addition of Cambridge's global corporate payments
capabilities enables FLEETCOR to pay both domestic and
international AP payments for the same client, a significant
differentiator in the commercial marketplace.
"We are honored to be recognized as the Foreign Inbound Deal of
the Year by Canadian Dealmakers for our acquisition of Cambridge," said Ron
Clarke, Chairman and Chief Executive Officer. "The award is
a great accomplishment for our Corporate Development team, who
continues to do a tremendous job of identifying and acquiring
businesses that add value to our company and its shareholders."
"Advising FLEETCOR on the Cambridge transaction was a privilege," said
Scott Kitchens, Partner at Alston
& Bird LLP. "This transaction brought to bear Alston &
Bird's deep payments expertise and cross-border experience from the
beginning all the way through closing. We are thrilled
FLEETCOR is receiving this honor."
"We are very pleased to congratulate FLEETCOR on being named
Foreign Inbound Deal of the Year. This is one of Canada's biggest fintech deals to date and
we're delighted the exceptional work of FLEETCOR's corporate
development team has been recognized," said Jake Gilbert, Partner at Blake, Cassels &
Graydon LLP.
FLEETCOR was advised in the transaction by Alston & Bird
LLP; Aon Transaction Solutions; Blake, Cassels & Graydon LLP;
Deloitte; and Ernst & Young. Cambridge was advised by Morgan, Lewis &
Bockius LLP; Dickinson Wright PLLC; Financial Technology Partners
LP and KPMG LLP.
About FLEETCOR
FLEETCOR Technologies (NYSE: FLT)
is a leading global provider of commercial payment solutions. The
Company helps businesses of all sizes better control, simplify and
secure payment of their fuel, toll, lodging and general payables.
With its proprietary payment networks, FLEETCOR provides
affiliated merchants with incremental sales and
loyalty. FLEETCOR serves businesses, partners and
merchants in North America, Latin America, Europe,
and Australasia. For more information, please
visit http://www.fleetcor.com/.
About Cambridge Global Payments
Cambridge Global Payments is a leading provider of integrated B2B
cross-border payment services. As a trusted partner 25 years,
Cambridge delivers innovative
solutions designed to address the unique international payment
needs of businesses. Cambridge's
award-winning capabilities and industry-leading technologies
simplify the way businesses connect with the global marketplace. As
one of the largest bank-independent providers globally,
Cambridge is flexible and
responsive, with offices across North
America, Europe, and
Australia. For more information,
please visit www.cambridgefx.com.
SOURCE FleetCor Technologies, Inc.