Fuelcard takes over its rival

9:49am Friday 18th April 2008

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AN acquisition-hungry fuel card company based in North Yorkshire has taken over a rival, adding £45 million in turnover from 2,000 new business fleet customers.

The Fuelcard Company UK Ltd, based in St James Business Park, Knaresborough, has acquired Abbey Fuelcards, of Oxford, for an undisclosed sum.

The deal, which involves closing the Abbey Fuelcards operation and taking over its clients, means consultation has now begun with about 40 staff in Oxford, some of whom may transfer to Knaresborough.

In any event, the 36 sales and operations team at The Fuelcard Company is now set to expand by 20 per cent by the end of the year, with eight new recruits.

The Fuelcard Company's client base will now expand by almost a third, creating one of the UK's largest business fuel providers.

Before the takeover, it serviced about 5,000 cardholders.

The firm is the UK division of FleetCor, the global fleet card company. This purchase marks the third acquisition for FleetCor Europe in 2008 as it follows an ambitious growth plan.

Andrew Blazye, chief executive of FleetCor Europe, said: "This acquisition will allow us to build on the expertise and service innovation Abbey Fuelcards has cultivated over 18 years by offering FleetCor's global products and account management systems."

Charles Freund, managing director of The Fuelcard Company UK, said: "As FleetCor builds its European footprint we are constantly on the lookout for companies who can expand our knowledge and customer offerings.

"We look forward to learning from Abbey Fuelcards' proficiencies with online marketing and to further advancing the UK fuel card business for its current and future customers."

The Knaresborough firm which allows large customers to hedge against fuel price rises by pre-buying fuel and offers small users reduced rates at the fuel pumps, has partnerships with many commercial fuelling networks including Shell, Esso, Texaco, Keyfuels, and Routemate.

The company directly serves more than 5,000 business fleets.

In May 2007, The Fuelcard Company was acquired by a FleetCor affiliate, making it part of a global fleet card business