International law firm Faegre & Benson LLP advised FleetCor on its acquisition of the UK and Ireland fuel card businesses of Retail Decisions (ReD). The acquisition includes all of ReD's fuel card operations in the UK and Ireland, including its network of UK fuel bunkering outlets.
The acquisition of ReD's UK fuel card business marks the ninth European acquisition that FleetCor has made since 2006. FleetCor is the worldwide leader in managing and processing commercial fuel cards. Established in 2000, FleetCor has acquired and developed a number of major fuel card brands and currently operates in eleven European markets, including: the UK, Ireland, Netherlands, Belgium, Luxembourg, Czech Republic, Slovakia, Russia, Poland, Lithuania and the Ukraine.
The Faegre & Benson team advising in this deal was led by partner Gary Laitner who was assisted by associates Robert Darwin and Kamalprit Lally on the corporate aspects. Partner Paul Finlan advised on tax aspects, special counsel John Duffy advised on property aspects of the deal, and partner Alex Denny and associate Christabel Oh advised on employment aspects.
Slaughter and May advised the sellers led by partner David Whittman, who was assisted by Mark Thomas.
Commenting on the deal, Gary Laitner said:
"I am delighted to have once again advised FleetCor on their latest acquisition. I have worked with them for many years and am pleased to see their business continues to grow steadily and successfully. The purchase of ReD demonstrates FleetCor's continuing commitment to the UK and Ireland and this acquisition will provide significant benefits to their customers. I wish them every success moving forward."
Ron Clarke, FleetCor's Chairman and Chief Executive Officer commented:
"This deal is an excellent fit. The two businesses slot together very well and have significant complementary strengths. We are continuing to execute our business strategy to grow FleetCor through expansion into international markets. We would like to thank the Faegre & Benson team for their excellent advice throughout all stages of this deal."