Divestiture • Business Services

WEX Acquires Exxon Mobil - Esso Card Program

On November 8, 2013, WEX acquired business services company Exxon Mobil - Esso Card Program from ExxonMobil

Acquisition Context
  • This is WEX’s 5th transaction in the Business Services sector.
  • This is WEX’s 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date November 8, 2013
Target Exxon Mobil - Esso Card Program
Sector Business Services
Buyer(s) WEX
Sellers(s) ExxonMobil
Deal Type Divestiture

Target Company

Exxon Mobil - Esso Card Program

United Kingdom
Esso Card Program offers a commercial fleet fuel card program that includes operations, funding, pricing and sales and marketing services.
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Buyer Overview 1

Buyer

WEX

Portland, Maine, United States

Category Company
Founded 1983
Sector Information Technology
Employees6,500
Revenue 2.6B USD (2024)
DESCRIPTION
WEX's corporate headquarters in downtown Portland, Maine.
WEX's corporate headquarters in downtown Portland, Maine.

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.


Deal Context for Buyer #
Overall 8 of 19
Sector: Business Services 5 of 7
Type: Divestiture 1 of 4
Country: United Kingdom 2 of 2
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 FleetOne

Antioch, Tennessee, United States

FleetOne, LLC is a provider of fuel cards and fleet-related payment solutions to businesses and government agencies with vehicles. Company offer fuel and maintenance purchasing controls, detailed reporting, online account management and many additional money-saving services.

Buy $369M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-17 Evolution1

Simsbury, Connecticut, United States

Evolution1, Inc.simplify the business of healthcare. Company through innovative healthcare software and payment solutions that administer and manage consumer directed accounts.

Buy $533M

Seller Profile 1

SELLER

ExxonMobil

Spring, Texas, United States

Category Company
Founded 1870
Sector Oil/Gas Exploration
Employees61,000
Revenue 339.2B USD (2024)
DESCRIPTION
Entrance to Exxon Mobil's corporate campus in Irving, Texas.
Entrance to Exxon Mobil's corporate campus in Irving, Texas.

ExxonMobil is a global oil and gas exploration company. ExxonMobil's principal business is energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products. ExxonMobil is a major manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a wide variety of specialty products. Exxon was incorporated in 1870 and is based in Spring, Texas.


Deal Context for Seller #
Overall 2 of 7
Sector: Business Services 1 of 2
Type: Divestiture 2 of 5
Country: United Kingdom 1 of 2
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-29 BOPP Films Business

Macedon, New York, United States

BOPP is a manufacturer of polypropylene films with plants in Shawnee, Okla., LaGrange, Ga., Virton, Belgium, Brindisi, Italy, and Kerkrade, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-12 Hong Kong Pumped Storage Development Co.

Hong Kong, China

Hong Kong Pumped Storage Development Co.,Ltd. offers pumped storage services to CLP Power Hong Kong Limited in mainland China.

Sell HK$2.0B