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10/17/2012 8:00:00 AM Write a Letter to the Editor Write a letter to the Editor

C.H. Robinson Sells T-Chek for $300 Million

C.H. Robinson Worldwide said late Tuesday it has sold its payment services business, T-Chek Systems, to Electronic Funds Source for $302.5 million in cash.

T-Chek, which has been a subsidiary of C.H. Robinson since 1984, had annual payment services net revenue of $49.3 million and operating income of $24.6 million in 2011.

T-Chek is a business-to-business provider of spending management and payment processing services. Its technology supports a variety of funds transfer, vendor payment, fuel purchasing and online expense management tools.

Historically, T-Chek has focused on the transportation industry with its major customer segments including the truckload less-than-truckload, and private fleet industries, and truck-stop chains.

“T-Chek is a high-quality company with strong customer relationships, very good technology and talented, dedicated employees,” said Scott Phillips, CEO of EFS.

“The acquisition will . . . add a successful business and outstanding team to our portfolio. We look forward to welcoming the business and its employees into the EFS organization,” Phillips said in a statement.

T-Chek has 190 employees, most of whom are based in Minnesota. EFS expects to retain a Minnesota presence, and T-Chek’s management will assume key roles in the combined organization, the companies said.


C.H. Robinson ranks No. 6 on the Transport Topics Top 50 list of the largest logistics companies in the United States, Canada and Mexico.

By Transport Topics

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