American buyer for AllStar

Swindon-headquartered AllStar Business Solutions has been acquired by an American buyer in a £194 million deal.


Swindon-headquartered AllStar Business Solutions has been acquired by an American buyer in a £194 million deal.

Swindon-headquartered AllStar Business Solutions has been acquired by an American buyer in a £194 million deal.
 
Fuel card and payments business FleetCor Technologies has purchased AllStar from fleet management company The Arval Group.
 
AllStar’s fuel cards allow fleet operators to provide company drivers with a payment card to fuel their vehicles without the need to pay with cash or personal cards.
 
Ron Clarke, chairman and chief executive officer of FleetCor Technologies, says the deal is part of its global acquisition strategy of identifying ‘attractive assets with performance upside’.
 
He adds: ‘We believe that we can help AllStar realise its full potential, as we have in previous acquisitions, by bringing our best practices, technology and commitment to this portfolio.’
 
Georgia, US-based FleetCor Technologies went public in 2010 and has financed the acquisition using existing cash and credit facilities.
 
Chief executive officer of FleetCor Europe, Andrew Blazye, adds: ‘We believe that this sale is a positive move for AllStar employees, partners and customers.’

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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