Edenred continues to expand its fleet & mobility solutions in Europe

Edenred has signed an agreement to acquire EBV Finance, a Lithuanian company specialized in tax refunds for European transportation companies.

As part of the development of its fleet & mobility solutions in Europe, Edenred has signed an agreement to acquire EBV Finance. The group will transfer to EBV Finance the assets of its Danish subsidiary Nikosax, which specializes in the same field as EBV Finance. Following the transaction, Edenred will own 60% of the combined entity.

“By integrating EBV Finance, we will be able to offer our transportation company clients a simple, efficient solution for claiming back a number of taxes paid across Europe,” said Antoine Dumurgier, Chief Operating Officer, Fleet & Mobility Solutions at Edenred.

Since 2015, EBV Finance has provided European transportation companies with refund services for VAT and excise duties paid on certain expenses, such as fuel and tolls, to simplify management and improve profitability for the companies.

EBV Finance’s 1,500 clients, located mainly in Eastern and Northern Europe, can request a refund for the taxes in 31 European countries. EBV Finance has recorded profitable, double-digit growth for several years. Together, EBV Finance and Nikosax are expected to generate revenue of around €13 million in 2019.