FleetCor to draw down on credit facility to purchase Cambridge Global

By Wendy Van Sickle

Columbus, Ohio, May 1 – FleetCor Technologies Inc. plans to draw down on its existing credit facility to fund a portion of its $675 million acquisition of Cambridge Global Payments, according to a press release.

FleetCor will also use cash on hand to acquire the Toronto-based business-to-business international payments provider.

The transaction is expected to close in the third quarter of 2017.

FleetCor is a Norcross, Ga.-based provider of specialized payment products and services, including fleet cards, food cards and corporate lodging discount cards for businesses.

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