ATLANTA, U.S.A. April 2, 2009 - FleetCor, the Global Fleet Card Company, announced today that it has acquired Corporate Lodging Consultants, Inc. (CLC) from Nautic Partners.
CLC, based in Wichita, Kansas, is a leading provider of lodging management programs to businesses. CLC serves more than 10,000 large and small business clients across the U.S. Annually, CLC's clients purchase eight million room nights across CLC's proprietary network of 12,000 U.S. hotels. CLC's clients typically report savings of 25% to 40% off their overall lodging expenses through a combination of hotel rate and administrative savings. In addition, CLC provides emergency lodging services and payment processing services to agencies of the Federal Government. For more information on CLC, see the company's website at http://www.corplodging.com/
Both FleetCor and CLC serve the same "on-the-road business workforce". They save their business clients money through purchase discounts, administration simplification, and fraud prevention. Additionally, CLC and FleetCor both operate closed-loop, proprietary acceptance networks (hotels and gas stations, respectively), which enable clients significantly better spending control and reporting detail than general purpose credit and charge cards.
"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." As part of the transaction, Nautic will also become a shareholder in FleetCor.
"We are excited about adding CLC to the FleetCor family of companies," said Ron Clarke, FleetCor's Chairman and CEO. "The CLC team has built a tremendously successful business and market franchise. CLC and FleetCor essentially share the same business purpose ... helping businesses save money on purchases made by their traveling workforce. We see a tremendous opportunity to bring CLC's hotel card savings programs to our portfolio of more than 750,000 business clients worldwide."
CLC's operations will remain in Wichita, and the business will continue to be run by members of the existing management team and client service staff.
FleetCor (http://www.fleetcor.com), The Global Fleet Card Company, is the worldwide leader in managing and processing commercial fuel cards, which save businesses money on their fuel purchases while bringing incremental business to fuel merchants. FleetCor serves over 750,000 businesses with its fleet card programs in North America, Europe, Asia and Africa. FleetCor's card programs are marketed under a variety of brand names including: CCS, CFN, FleetNet, Fuelman, The Fuelcard Company, Keyfuels, Mannatec and Smart. FleetCor and its subsidiaries employ more than 1,000 associates located in 15 offices globally. FleetCor is privately owned by management, and a group of institutional private equity investors including Bain Capital, Summit Partners, and Advent International.
For further information please contact:
Blue Sky Agency