Acquisition Strengthens WEX’s European Fleet Solutions Business
SOUTH PORTLAND, Maine–(BUSINESS WIRE)–Mar. 25, 2019– WEX Inc. (NYSE:WEX), a leading financial technology service provider, announced today that it plans to acquire the fuel card business (“Go Fuel Card”) of EG Group, an independent fuel station and convenience retailer in Europe. The anticipated transaction is subject to completion of employee information and consultation processes, and other approvals, as appropriate.
The Go Fuel Card business is headquartered in Breda, Netherlands with approximately 200,000 proprietary cards in circulation across the Netherlands, France, Belgium and Luxembourg. Go Fuel Card offers fuel cards for vehicles to a range of customers from small and medium enterprises, commonly called SMEs, to larger fleet operators. Go Fuel Card operates on an independent proprietary card network with acceptance at over 5,000 retail sites.
“The addition of the Go Fuel Card business will strengthen our position in Europe by expanding our footprint in attractive markets and broadening our card acceptance through an independent, proprietary card network,” said Scott Phillips, President, Global Fleet, WEX. “I am also extremely excited about the opportunity to partner with EG Group to expand our Fleet business throughout EG locations in the U.S., Europe and Australia. This is an attractive business that projects further reductions to our sensitivity to retail fuel prices, while providing us a strong pathway for organic growth and value creation over time.”
WEX expects the transaction to close in the second quarter of 2019, subject to customary closing conditions.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
