FTVentures
Joins LLR Partners and Management to Purchase Fleet One from SunTrust
Banks
Provider
of fuel charge cards and fleet management information services to
continue to grow as independent company
FTVentures is pleased to announce that it has joined LLR Partners and the
Fleet One management team to acquire TransPlatinum Service, the holding
company for Fleet One and a wholly-owned subsidiary of SunTrust Banks,
Inc. (NYSE: STI).
With a national customer base of over 20,000 fleets, and products
accepted at over 40,000 locations across the country, Fleet One is a
provider of fuel charge cards and fleet management information services
to all vehicle classes. Following this acquisition, the current
management team of Fleet One will continue to manage and grow the
company’s products and services.
We are extremely enthusiastic about this opportunity given Fleet One’s
strong market position, compelling growth dynamics, proven management
team and unique service offering.
Richard Garman, FTVentures Managing Partner, has joined the Fleet One
board of directors.
Click
here to read the press release.
To learn more about the Fleet One acquisition or the payments
infrastructure space, please contact:
Richard Garman, FTVentures Managing Partner
415-229-3000 or rgarman@ftventures.com
Chris Winship, FTVentures Partner
415-229-3012 or cwinship@ftventures.com
Boris Rapoport, FTVentures Principal
212-682-4443 or brapoport@ftventures.com
Kyle Griswold, FTVentures Associate
212-682-4474 or kgriswold@ftventures.com
