Fleetcor expands its lodging business with the acquisition of ALE
In September2021, Fleetcor completed the acquisition of ALE Solutions Inc. (ALE), a lodging solutions operator for the insurance industry, for $421.8 million. This acquisition expands Fleetcor’s lodging business into the insurance vertical, as ALE provides lodging needs for policyholders who have been displaced from their homes due to damage or catastrophe on behalf of property insurance carriers. Following this acquisition, Fleetcor expects its lodging to increase by an estimated five million rooms per night with the addition of multiple long-term housing rentals.
COVID|Balance Sheet|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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