PE Firms Reap $369M From Fueling Co. Sale

Law360, New York (September 6, 2012, 1:51 PM EDT) -- Middle-market private equity firms LLR Partners and FTV Management Co. LP have sold portfolio company Fleet One, a retail fueling company based in Tennessee, to Maine-based payment processor Wright Express Corp. for $369 million, the parties said Wednesday.

Wright Express said it acquired Fleet One, a Nashville, Tenn.-based company that provides fuel cards and management services to the U.S. fleet industry, from the private equity firms in an all-cash transaction. The deal is also expected to generate about $100 million in tax benefits for the South...
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