WEX - M&A Summary and Business Overview

Information TechnologyCompany

WEX M&A Summary

WEX has acquired 21 companies, including 7 in the last 5 years. A total of 9 acquisitions came from private equity firms. It has also divested 2 assets.

WEX’s largest acquisition to date was in 2015, when it acquired Electronic Funds Source for $1.1B. It’s largest disclosed sale occurred in 2014, when it sold Pacific Pride Services to Corpay for $50M. WEX has acquired in 11 different US states, and 6 countries. The Company’s most targeted sectors include business services (37%) and internet software and services (22%).

WEX Business Overview

Where is WEX headquartered?

WEX is headquartered in Portland, Maine.

What is WEX’s revenue?

WEX disclosed revenue of 2,548M USD for 2023 and 2,351M USD for 2022.

How many employees does WEX have?

WEX has 5,300 employees.

What sector is WEX in?

WEX is an information technology company.

When was WEX founded?

WEX was founded in 1983.

M&A Summary

  • M&A Total Activity21
    • M&A Buy Activity19
    • M&A Sell Activity2
  • Total Sectors Invested 5
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 13
  • M&A Advisors 7

WEX

WEX, Inc.

1 Hancock Street,
Portland, Maine 04101
United States,
(207) 773-8171
www.wexinc.com

WEX is a global provider of payment processing and information management services. The Company primarily focuses on simplifying the complexities of payment systems across a wide range of sectors, including fleet, travel and healthcare. For the fleet industry, WEX offers fuel cards and vehicle maintenance solutions to help companies manage their fleets more efficiently. In the travel sector, WEX provides virtual payment solutions that enable travel agencies, corporate travel departments, and online travel providers to automate and manage payments to suppliers. For healthcare, WEX offers healthcare payment products and services that facilitate payments and transactions between patients, providers, and payers. WEX was formed in 1983 and is based in Portland, Maine.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.0/yr) # 14 2 2 - 1 - 19
vol $2.9B $275M $250M $3.4B
Sell (0.0/yr) # 2 - - - - - 2
vol $50M $50M
  21

Most Recent M&A

Company Date Value Type
Payzer LLC 2023-10-26 250M USD Add-on Acquisition
Charlotte, North Carolina · www.payzer.com
Benefit Express Services LLC 2021-04-14 275M USD Add-on Acquisition
Schaumburg, Illinois · www.benefitexpress.info
HealthcareBank - HSA Assets 2021-02-11 - Divestiture
Fargo, North Dakota
eNett International (Singapore) Pte. Ltd. 2020-01-24 - Divestiture
, Singapore · www.enett.com
Optal Ltd. 2020-01-24 - Add-on Acquisition
Melbourne, Australia · www.optal.com
GO Fuel Card 2019-03-25 - Divestiture
Breda, Netherlands · www.go-fuelcard.com
Discovery Benefits, Inc. 2019-01-17 425M USD Add-on Acquisition
Fargo, North Dakota · www.discoverybenefits.com
Noventis, Inc. 2018-10-22 - Add-on Acquisition
Houston, Texas · www.noventispayments.com
WEX Fuel Management 2017-11-01 - Divestiture
Louisville, Kentucky · www.wexfuelmanagement.com
Electronic Funds Source LLC 2015-10-19 1.1B USD Add-on Acquisition
Ogden, Utah · www.efsllc.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Business Services 7 (37%) 824M (24%) 1 (50%) 50M (100%)
Internet Software and Services 4 (21%) 808M (24%) - -
Software 3 (16%) 330M (10%) 1 (50%) -
Financial Services 3 (16%) 369M (11%) - -
Information Technology 2 (11%) 1.1B (32%) - -
Total 19 $3.4B 2 $50M

By Geo

State/Country Buy Value Sell Value
United States 12 3.1B 2 50M
  North Dakota 2 425M - -
  Oregon 1 32M 1 50M
  Kentucky 1 - 1 -
  Utah 1 1.1B - -
  Texas 1 - - -
  Tennessee 1 369M - -
  North Carolina 1 250M - -
  Nebraska 1 80M - -
  Illinois 1 275M - -
  Florida 1 - - -
  Connecticut 1 533M - -
Australia 2 318M - -
United Kingdom 2 28M - -
Brazil 1 22M - -
Netherlands 1 - - -
Singapore 1 - - -
Domestic 12 (63%) 3.1B (89%) 2 (100%) 50M (100%)
Cross-border 7 (37%) 367M (11%) - -
Total 19 $3.4B 2 $50M

Top M&A Advisors

Financial Deals
BofA Securities
 5
Headwaters MB
 1
Legal Deals
Wilmer Cutler Pickering Hale and Dorr
 6
Clifford Chance
 2
King & Wood Mallesons
 1

Deal Values

buy # Total
> $1B 1 $1.1B
$100M to $1B 6 $2.2B
< $100M 4 $161M
TOTAL $3.4B
Largest Electronic Funds Source LLC
$1.1B (2015-10-19)
sell # Total
< $100M 1 $50M
TOTAL $50M
Largest Pacific Pride Services LLC
$50M (2014-07-30)

M&A Connections

Deals
Acquired from
Investor(s)
37%
7 (37%)
Strategic(s)
21%
4 (21%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Information Technology

Revenue

2,548   9% 2023
2,351   28% 2022
1,850   19% 2021
1,560   10% 2020
1,724   16% 2019
1,493   20% 2018
1,251   23% 2017
1,018   20% 2016
855   5% 2015
818   15% 2014
717   16% 2013
623   2012
(millions of USD) Show More Show Less

Employees

5,300

Established

1983

Public

NYSE: WEX

 Subscribe to unlock this and 208,055
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More
1 Week Free Trial Learn More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB

Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 201K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.

Related Lists for WEX

Maine Companies , Information Technology Companies , United States Companies , Maine Information Technology Companies , Maine Information Technology with Acquisitions , Maine Information Technology with Divestitures

Related Lists for Maine Companies

Largest Maine Companies , Acquisitive Maine Companies , Recently Acquired Maine Companies , Recently Sold Maine Companies , Private Maine Companies , Public Maine Companies , Acquired Maine Companies , PE Backed Maine Companies

Related Lists for Information Technology Companies

Largest Information Technology Companies , Acquisitive Information Technology Companies , Recently Acquired Information Technology Companies , Recently Sold Information Technology Companies , Private Information Technology Companies , Public Information Technology Companies , Acquired Information Technology Companies , PE Backed Information Technology Companies

Related Lists for United States Companies

Largest United States Companies , Acquisitive United States Companies , Recently Acquired United States Companies , Recently Sold United States Companies , Private United States Companies , Public United States Companies , Acquired United States Companies , PE Backed United States Companies
Mergr

Product

Company

Legal