Deal Extends FLEETCOR ‘s Workforce Lodging Business to International Markets
Dublin – Oct. 21, 2022 – FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global business payments company, announced today it has signed a definitive agreement to acquire Roomex, a European workforce lodging provider serving the UK and German markets. The acquisition extends FLEETCOR®’s U.S. workforce lodging business to Europe and provides a platform for further international expansion. The transaction is expected to close in November.
Roomex, headquartered in Dublin, Ireland, has 600 workforce business customers who have stayed in approximately 50,000 hotels.
Roomex serves businesses of all sizes by providing a travel and expenses management solution, specifically designed for businesses with a large mobile workforce. The deal to bring the business into the FLEETCOR Group will fuel growth into new markets for Roomex, which currently operates in Ireland, the UK and Germany, alongside continued enhancement of its booking and payments software.
The acquisition by FLEETCOR follows a previous Series A fundraising round in 2018 which saw Roomex raise €8m. The business was most recently recognised at the Business Travel Awards Europe 2022, being shortlisted in the ‘Accommodation Innovation’ and ‘Payments & Expenses’ categories.
FLEETCOR’s existing lodging business books tens of millions of hotel room nights annually across a network of 45,000 hotel properties primarily in the U.S. The lodging solutions provide customers with savings, specialized controls and consolidated invoices.
“Roomex gives us a very similar workforce lodging business in Europe. It provides us a base of operations, expertise and a hotel network from which we can build out the lodging business across Europe while leveraging the significant client base we already have there,” said Ron Clarke, chairman and chief executive officer, FLEETCOR Technologies, Inc.
“We are thrilled to join the FLEETCOR team. FLEETCOR’s distribution scale, payment solutions and client relationships will enable Roomex to expand its product offering and accelerate our sales growth,” said Garry Moroney, CEO of Roomex.
Roomex is the all-in-one travel and expenses platform built for businesses with a mobile workforce. Roomex helps you book, manage, pay and analyze all of your accommodation, rail and expenses in one place - saving both time and money. Headquartered in Dublin, Ireland with offices in London, and Munich, Roomex is on a mission to make workforce travel and spend management as seamless and cost-effective as possible. Learn more at www.roomex.com.
Roomex was advised by Strata Technology Partners LLP, as corporate finance advisors, and Maples Group as legal counsel.
FLEETCOR Technologies (NYSE: FLT) is a leading global business payments company that helps businesses spend less by providing innovative solutions that enable and control expense-related purchasing and payment processes. The FLEETCOR portfolio of brands automate, secure, digitize and manage payment transactions on behalf of businesses across more than 100 countries in North America, Latin America, Europe, and Asia Pacific. For more information, please visit www.FLEETCOR.com.