FleetCor Acquires CLC to Expand Client Services

FleetCor Technologies, which operates an international network of fuel-card programs, said it has acquired Corporate Lodging Consultants from Nautic Partners of Providence, R.I., to broaden its service offerings.

Both companies serve business travelers with programs such as purchase discounts, administrative services and fraud deterrence that are meant to reduce costs, FleetCor said in its statement. The companies also have proprietary networks that can enhance spending controls more effectively than standard credit or other electronic payment cards, the company said.

In its April 3 announcement, FleetCor, Norcross, Ga., said CLC manages 8 million nightly hotel stays annually from its Wichita, Kan., headquarters. Terms of the acquisition were not announced.

FleetCor offers a variety of fuel- card services in the United States, Europe, Asia and Africa. Nautic Partners, a private equity firm whose holdings include Canada Cartage of Mississauga, Ontario, made an unspecified investment to become a shareholder in privately held FleetCor, according to the announcement.



“Over its 30-year history, CLC has had a strong track record of growth and superior client service,” said Habib Gorgi, managing director of Nautic Partners. “FleetCor will make a terrific long-term home for CLC. We are delighted to have completed the transaction in today’s challenging market environment.”

Corporate Lodging’s customer base includes more than 10,000 businesses of all sizes at 12,000 U.S. hotels. Its typical discounts range between 25% and 40%, FleetCor said in its statement. Among its other customers is the U.S. government.

Nautic’s holdings include Canada Cartage, which offers dedicated, local delivery and warehousing services throughout Canada.

Current management will remain in place at CLC, whose operations will continue to be based in Wichita, FleetCor said in its statement.

FleetCor has more than 3.5 million cardholders and manages fuel purchases that exceed $14 billion a year. FleetCor’s other owners include management and private equity companies such as Bain Capital, Summit Partners and Advent International.

 

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