M&A Deal Summary

Corpay Acquires Associated Foreign Exchange

On September 17, 2020, Corpay acquired financial services company Associated Foreign Exchange

Acquisition Highlights
  • This is Corpay’s 3rd transaction in the Financial Services sector.
  • This is Corpay’s 9th transaction in the United States.
  • This is Corpay’s 1st transaction in California.

M&A Deal Summary

Date 2020-09-17
Target Associated Foreign Exchange
Sector Financial Services
Buyer(s) Corpay
Deal Type Add-on Acquisition
Advisor(s) BofA Securities (Financial)
GreenbergTraurig (Legal)

Target

Associated Foreign Exchange

Woodland Hills, California, United States
Associated Foreign Exchange, Inc. is a payment and risk management solutions provider that specializes in cross-border transactions and provides market expertise and unrivalled customer service for businesses and private clients. Associated Foreign Exchange was founded in 1979 and is based in Woodland Hills, California.

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Buyer(S) 1

Buyer

Corpay

Atlanta, Georgia, United States

Category Company
Founded 1986
Sector Business Services
Employees10
Revenue 3.8B USD (2023)
DESCRIPTION
Entrance to FleetCor's corporate headquarters in Norcross, Georgia.
Entrance to FleetCor's corporate headquarters in Norcross, Georgia.

Corpay is a global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand. Corpay was formed in 1986 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 25 of 36
Sector (Financial Services) 3 of 4
Type (Add-on Acquisition) 14 of 24
State (California) 1 of 3
Country (United States) 9 of 13
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 Travelliance

Schaumburg, Illinois, United States

Travelliance, Inc. is an airline lodging programs serving distressed airline passengers, airline crews, and airline employees. Travelliance is based in Schaumburg, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-28 Roger.ai

San Francisco, California, United States

Roger.ai, Inc. is a global accounts payable (AP) cloud software platform for small businesses. Roger.ai is based in San Francisco, California.

Buy -