Edenred completes the acquisition of CSI and UK-based TRFC

Edenred, a world leader in transactional solutions, has completed the acquisition of Corporate Spending Innovations (CSI) for $600 million and purchased an 80% share in of The Right Fuelcard Company (TRFC) group.

Around 80% of the share capital of TRFC group will now be in the hands of Edenred, establishing a foothold in the UK fleet and mobility solutions market.

CSI is one of the leading providers of automated corporate payment software in North America.

The two companies will be fully consolidated in Edenred’s financial statements as from January 1, 2019.

Acquiring CSI will enable Edenred to step up its development in the fast-growing corporate payment segment, enhance its digital payment technology platform and significantly increase its exposure to the North American market.

The TRFC group helps 27,000 corporate clients optimize the management of their heavy and light vehicle fleets. Its 150,000 cardholders can fill up at 90% of UK service stations using monobrand or multibrand fuel cards. The TRFC group is estimated to have generated more than £11 million in EBITDA in 2018.