FleetCor Technologies, Inc. (NYSE: FLT) today announced that CEO and founder, Ron Clarke, received the Ernst & Young Entrepreneur of the Year® Award for the Alabama, Georgia and Tennessee region during a gala at the Intercontinental Hotel in Atlanta, Georgia on June 7 th. This prestigious award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. He was selected for the award by an independent panel of judges consisting of previous award winners, CEOs, private capital investors and other business leaders.
Now in its 26 th year, the Entrepreneur of the Year Program has expanded to recognize business leaders in more than 140 cities in more than 50 countries throughout the world.
Founded in 2000, FleetCor has grown significantly through a combination of product and service innovation and over 40 acquisitions of businesses and commercial account portfolios. Revenue has grown from $30.7 million in 2001 to $519.6 in 2011, representing a compound annual growth rate of 33%. In 2011, FleetCor generated 33% of its revenue from international operations, compared to none in 2000. In 2009, 2010 and 2011, FleetCor generated operating income of $146.0 million, $170.5 million, and $226.3 million, respectively. FleetCor went public through an initial public offering in 2010 under Mr. Clarke’s leadership and is traded on the New York Stock Exchange under the symbol FLT.
“We are delighted to receive this kind of recognition from a first class organization like E&Y. Because business is a “team sport”, I accept this award on behalf of all our FleetCor associates,” said Ron Clarke.Ron is now eligible for the Ernst & Young National Entrepreneur of the Year Award, which will be announced at the annual awards gala in Palm Springs, California, on November 17, 2012. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.