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TheStreet Open House

Wright Express' CEO Hosts Definitive Agreement To Acquire Fleet One Conference (Transcript)

Stocks in this article: WXS

Wright Express Corp. (WXS)

Definitive Agreement to Acquire Fleet One Conference Transcript

September 5, 2012 5:00 PM ET

Executives

Steve Elder - Chief Financial Officer

Mike Dubyak - Chief Executive Officer

Analysts

Sanjay Sakhrani - KBW

Greg Smith - Sterne, Agee

Bob Napoli - William Blair

Roman Leal - Goldman Sachs

Tom McCrohan - Janney

Sanjay Singh - Bloomberg Investment

Tien-Tsin Huang - JPMorgan

Presentation

Operator

Good afternoon. My name is Kimberly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Wright Express Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. (Operator Instructions)

Thank you. I would now like to turn the call over to CFO, Steve Elder. Please go ahead, sir.

Steve Elder

Good afternoon, everyone, and thanks for joining us on short notice. Today Wright Express announced that it entered into a definitive agreement to acquire Fleet One, an over-the-road and local retail fueling business from private equity firms LLR Partners and FTV Capital for $369 million in cash. A press release is now posted to the Investor Relations section of our website at wrightexpress.com.

Joining me today on the call to discuss this transaction is our CEO, Mike Dubyak. Mike will walk you through the strategic rational and details behind the transaction, and then we will open up the call for your questions.

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