Edenred consolidates its position on the European toll market

Edenred announces that its subsidiary UTA has signed an agreement to acquire the Road Account client portfolio from AirPlus.

A subsidiary of the Lufthansa group, AirPlus markets corporate toll payment solutions under the Road Account brand. The acquisition will enable UTA to expand its client base on the buoyant European toll market and creates new outlets for additional services.

The corporate toll market is growing rapidly in Europe, particularly in Germany – the continent’s largest such market – where the size of the truck toll network has more than doubled following the recent extension of tolls to all federal roads in the country. With total collected tolls of €4.8 billion in 2017, the German toll market is forecast to generate revenue of €7 billion by 2022.

The number two Europe-wide player specialized in multi-brand fuel cards, toll solutions and maintenance services, UTA generated more than 40% of its 2017 revenue through value-added services such as tolls. The acquisition of the Road Account client portfolio will enable UTA to consolidate its position in the rapidly expanding toll market, according to Edenred.

The closing of the transaction, subject to approval by the German and Austrian competition authorities and by Lufthansa’s Corporate Bodies, is expected by the end of December.