Wright Express Corp. (NYSE:WXS) entered into a definitive agreement to acquire Fleet One Holdings LLC from LLR Partners Inc. and FTV Capital for approximately $370 million in cash on September 5, 2012. The all cash transaction is financed through $320 million Wright's existing credit facility and $208 million of cash on hand. FleetOne, LLC recorded revenue in excess of $56 million for the twelve months ending June 30, 2012. The deal is subject to regulatory approval and other customary closing conditions and is expected to close in fourth quarter of 2012. The transaction is anticipated to be immediately accretive to Wright's adjusted net income, which is a non-GAAP measure, excluding one-time charges related to the transaction.

BofA Merrill Lynch acted as financial advisor and WilmerHale acted as legal advisor to Wright Express Corp. FT Partners acted as financial advisor for FleetOne, LLC and its Board of Directors and Pepper Hamilton LLP acted as legal advisor to FleetOne, LLC. David Schwartzbaum and Joe Gangitano of Greenberg Traurig acted as legal advisors to Bank of America Merrill Lynch, financial advisor to Wright Express. David Breach and Noah Boyens of Kirkland & Ellis LLP acted as legal advisors for FTV Capital and LLR Partners, Inc., shareholders of Fleet One Holdings LLC.