Corpay, Inc. (NYSE: CPAY), the Global Spend Management company, today announced it has completed the sale of its UK-based vehicles maintenance business to OEConnection (OEC), a Francisco Partners portfolio company.
“This is our second Vehicle Payments divestiture this year, and another step in shifting our portfolio toward Corporate Payments,” said Ron Clarke, Chairman and CEO of Corpay. “We’re concentrating our capital and management attention on fewer, bigger businesses.”
The divestiture is expected to be neutral to Corpay’s 2026 Cash EPS outlook, with share repurchases offsetting the earnings contribution of the business sold. The transaction’s impact is included in Corpay’s updated 2026 guidance provided in its third-quarter earnings release.
Barclays and J.P. Morgan acted as financial advisors to Corpay, and Jones Day acted as legal counsel to Corpay.
About Corpay
Corpay (NYSE: CPAY), the Global Spend Management Company, is an S&P 500 company with three primary B2B solution sets. Spend Management, provides corporate and virtual card programs and AP automation solutions. Cross-Border, helps businesses manage foreign-currency exposure and provides global multi-currency account solutions. Vehicle Solutions, controls fuel, tolls, parking and related vehicle spend. With Corpay, the more a business controls, the less it spends. To learn more, visit corpay.com.
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