Fleetcor

In 2000, Ron Clarke joined the company as CEO when the company's estimated annual revenues were $25 million.[5]

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.”[6]

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.”[7] The following year, FLEETCOR acquired Mannatec Inc.[8] In March. In 2004, the company partnered with CITGO “to process CITGO Petroleum Corp.’s commercial fleet card, the CITGOFleet card.”[9] In 2005, FLEETCOR began a relationship with BP, a contract that has since been extended several times.[10]

Bain Capital invested $75 million in FLEETCOR in 2006, thus giving the company the capital to expand its presence across Europe.[11] FLEETCOR acquired United Kingdom company KeyFuels in 2006, processing over 500,000 business fleets.[12] Other European acquisitions from 2006 to 2009 included Abbey Fuelcards,[13] CSS,[14] ICP Smart Concepts,[15] Petrol Plus Region (the largest independent fuel card company in Russia), and The Fuelcard Company (a United Kingdom commercial fuel card reseller).[16]

Along with its European expansion, FLEETCOR continued to grow its US presence. In 2007, FLEETCOR won a long-term card processing contract by Chevron USA[17] but lost the contract to WEX in 2016.[18] With the addition of an investment of $46 million in equity from Advent in 2006 for European expansion,[19] FLEETCOR launched British Petroleum (BP) Mastercard, a North American major oil co-branded fleet card, and introduced FleetCardsUsa.com, a fleet card web portal.[20]

In 2009, FLEETCOR acquired Corporate Lodging Consultants (CLC), a provider of workforce travel savings and solutions for companies.[21] FLEETCOR launched Global FleetNet (GFN), a global card processing platform,[22] and purchased Retail Decisions’ United Kingdom fleet card operations.[23]

In 2010, FLEETCOR went public, debuting a $335 million Initial Public Offering (NYSE: FLT).[24] That year, it renewed the British Petroleum (BP) United States fleet card contract and acquired Carnet, a Czech Republic provider of telematics solutions.[25]

FLEETCOR won the $300 million Shell Europe/Asia fleet card processing contract (with Logical) in 2011[26] and acquired Mexico’s Efectivale (a fuel and food payments services company)[27] and acquired AllStar Business Solutions (fuel card provider in the UK market) for $304 million.[28]

FLEETCOR continued its global expansion in 2012 by acquiring a leading fuel card systems company in Russia[29] and CTF, a fuel payment processing services provider in Brazil, for $180 million.[30]

In 2013, FLEETCOR acquired the following: Australia’s FleetCard,[31] New Zealand’s Cardlink,[32] VB Servicos (a provider of transportation cards and vouchers in Brazil),[33] DB Trans (also in Brazil),[34] Epyx (a SaaS system and a network of vehicle repair garages serving fleet operators in the UK),[35] and NexTraq, a US-based provider of telematics solutions.[36] FLEETCOR also signed three deals in 2013, with GE Custom Fleet in Australia,[37] Good Card, a leading Brazilian fuel card network operator, and Husky Oil Limited.[38]

In 2014, the company established minority investment in Masternaut, a European-based provider of telematics solutions,[39] signed definitive documents to acquire Shell's SME portfolio in select European markets,[40] and acquired Pacific Pride (a cardlock fueling network operating in the US and Canada)[41] and Comdata (a business-to-business provider of innovative electronic payment solutions) for $3.45 billion.[42]

BP awarded FLEETCOR a long-term contract in 2015.[43]

FLEETCOR acquired Travelcard (universal fuel card issuer in the Netherlands)[44] and Sem Parar (electronic toll payments company in Brazil) in 2016,[45] and FLEETCOR signed an agreement to manage the commercial fuel card program for Speedway LLC (Speedway) the same year.[46]

FLEETCOR joined the Fortune 1000 in 2017,[47] and expanded to Italy with minority investment in Qui! Group, an Italian-based provider of food voucher and card solutions.[48] Cambridge Global Payments, a B2B international payments provider,[49] and Creative Lodging Solutions, a leading lodging provider to businesses, were added to FLEETCOR’s acquisitions as well.[50]

Named by Forbes as a Global 2000 Growth Champion[51] and one of the World's Most Innovative Companies,[52] FLEETCOR joined the S&P 500 in 2018.[53] FLEETCOR made a minority investment in P97 Networks, Inc., a cloud-based mobile commerce solutions company, the same year.[54]

In 2019, FLEETCOR led three major acquisitions: Nvoicepay (an Account Payables automation for businesses company), Sole Financial (a payroll card provider), and Travelliance (airline lodging programs).[55]

In November 2019, FLEETCOR officially opened a new corporate office in the Terminus 100 office.[56]

FLEETCOR appointed a new CFO, Charles Freund, in August 2020; Freund succeeded Eric Dey, who held the position for 18 years and will remain at the company as a senior advisor until 2021.[57]