FLEETCOR to Acquire AFEX, a Leading Cross-Border Payments Provider
Acquisition complementary to Cambridge Global Payments cross border business; Expected to be accretive in 2021
AFEX delivers simple and seamless cross border payment solutions that help small-and medium-sized businesses (SMBs) break down currency barriers to grow internationally. The company focuses on providing international accounts payables products for businesses typically underserved by banks.
With more than 35,000 customers and over
“AFEX is a terrific business, with revenues growing double digits over the last 3 years. Its large European and
Both companies offer ERP integrated cross border payment and risk management solutions to businesses.
“FLEETCOR’s broad corporate payments portfolio and S&P 500 profile will help us better serve clients in creating unique solutions for their FX needs,” said
Eversheds Sutherland provided legal counsel to
AFEX is a trusted global payment and risk management solutions specialist with a heritage that dates back to 1979. We offer a comprehensive range of global payment, foreign exchange, and risk management services. We can handle every aspect of a client’s foreign payment needs, from risk consultation to transaction execution, and have a diverse client base. We recognize the distinct requirements of each of our clients and take considerable pride in creating unique and strategically adept global payment and foreign exchange solutions to meet our clients’ financial goals. For more information, please visit www.afex.com.