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About FleetCor

Helping companies manage motor fleets is at the core of FleetCor's mission. The company is a leading provider of fleet cards and payment processing services aimed at commercial and government fleets. Its cards carry the names Fuelman, CFN, Mannatec, Keyfuels, CCS, and Fuelcard. The fleet cards function like typical charge cards and can be used to purchase – more... fuel and lodging. FleetCor tracks purchases in order to help manage employee spending. The company serves more than 500,000 accounts and has more than 2 million cards active in Africa, Asia, Europe, and North America. Chevron is FleetCor's largest customer accounting for about 11% of sales. Other major customers include such BP, Citgo, and Shell.


Founded in 2000, FleetCor went public in December 2010 via an initial public offering that raised nearly $300 million. The proceeds went to FleetCor's private equity shareholders, Advent International, Bain Capital, and Summit Partners.

Geographic Range

The US accounts for about two-thirds of FleetCor's sales. Outside the US the firm does business in Europe and Latin America. The firm is intent on growing its international presence.

Financial Analysis

In its first year as a public company FleetCor's sales climbed 20% vs. 2010, while net income rose by about 36%. North America outperformed International with year-to-year sales up 21% and 17%, respectively. FleetCor credited the growth in its domestic business to organic growth in some of its payment programs, higher average retail fuel prices in 2011 compared with 2010, and the spread between wholesale fuel costs and retail fuel costs. The overseas business also got a boost from organic growth as well as acquisitions in 2011.

Indeed, 2011 was a year of record sales for FleetCor, which has seen sales nearly double since 2007. Profits and cash flow from operations have also steadily risen, with the exception of a dip in 2009.


FleetCor has built itself into an industry leader mostly through acquisitions. The company plans to consolidate the industry further by targeting smaller and regional fleet service providers in the markets it serves. It also is eyeing expansion into such growing markets as Asia and Latin America and diversifying into new service offerings. To that end, in 2011 the company purchased prepaid fuel card and food voucher companies in Mexico and the UK. The purchase of the Mexico firm marked FleetCor's entry into Latin America. In 2012 FleetCor furthered expanded its presence in Mexico with another acquisition of a fuel card client portfolio. Also in 2012 the company entered the Brazil market with its acquisition of CTF Technologies for $180 million. CTF provides fuel payment processing in Brazil.


Summit Partners, L.P. owns 28% of FleetCor's shares. Other significant shareholders include BCIP Associates III, LLC and Chestnut Hill Ventures, LLC with about 14% and 11% of the company's shares, respectively. – less

FleetCor Employer Reviews

Sales / Account Manager (Current Employee), Norcross, GAJune 28, 2014
Customer Service Representative (Former Employee), Norcross, GAMay 22, 2014
Sales (Former Employee), usaMay 17, 2014
Risk (Current Employee), IpswichMay 13, 2014
Customer Service Representative (Former Employee), ConcordApril 19, 2014

Working at FleetCor

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