Oct. 19, 2015, 7:41 AM
- EFS provides customized corporate payment solutions for fleet and corporate customers, with a focus on the large and mid-sized fleet segments.
- WEX is paying roughly $1.1B in cash and 4M shares to the owner of EFS - funds of Warburg Pincus. The deal is expected to be immediately accretive to adjusted net income.
- Run-rate synergies are expected to be about $25M over a three-year period, and the present value of tax benefits should be roughly $275M.
- "EFS strong track record and broad customer acceptance in mid- and large-sized over-the-road (OTR) fleet segments is an ideal complement to WEX," says the company.
- A conference call is set for 8:30 ET.
Sep. 5, 2012, 4:51 PM
Wright Express (WXS) agrees to acquire fueling company Fleet One from two PE firms for $369M in cash as the payment processing company seeks to expand its presence in the heavy truck market in North America. WXS expects the transaction to immediately boost its adjusted income, excluding one-time charges related to the acquisition.| Sep. 5, 2012, 4:51 PM