World Fuel Services Corporation INT announced today that it has signed
a definitive agreement to acquire select assets of Multi Service Corporation
(“Multi Service”) for a purchase price of approximately $137 million. Multi
Service is a global transaction management company specializing in fleet,
government and commercial payment programs primarily through closed-loop
networks. The purchase price will be principally funded through the company's
existing credit facilities.
Multi Service is headquartered in Overland Park, Kansas and has 360 employees.
Multi Service, which processes more than eight million transactions annually,
also maintains offices in the Netherlands and Australia. The Multi Service
product offering includes the Multi Service Fuel Card, accepted at more than
3,500 truck stops in the United States and Canada, Multi Service Tolls,
payment solutions for tolls, bridges and tunnels across Europe, government
payment systems for global fuel procurement, and commercial payment programs
in the transportation and retail industries.
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