OEC Expands Footprint with Agreement to Acquire epyx, r2c Online and Business Gateway
Combination brings together leading providers to the fleet market to strengthen service, maintenance, and repair offerings for fleet customers and partners across Europe
OEConnection (OEC), a leading global technology provider for the automotive aftersales industry today announced it has entered into a definitive agreement to acquire epyx Ltd, together with sister companies r2c Online Ltd and Business Gateway GmbH, from Corpay (NYSE: CPAY). The transaction remains subject to regulatory approvals and customary closing conditions and is expected to close later this year.
epyx, r2c Online, and Business Gateway are leading providers of fleet management, vehicle SMR, workshop management, and compliance technology in the UK and continental Europe, serving fleet operators, service providers, and industry partners across the region.
The acquisition creates significant opportunity for both OEC and epyx to increase customer value across Europe's fleet and aftersales technology market. OEC’s majority investor, Francisco Partners, will continue to provide support and sector expertise in the combined business.
"epyx has built deep, long-standing relationships across the fleet and garage network ecosystem in the UK and Europe, and their platforms are purpose-built for the fleet market they serve,” said Patrick Brown, CEO of OEC. “Bringing our organizations together reflects a shared commitment to the fleet and aftersales industry, and to the technology that keeps vehicles on the road. We look forward to working toward close and, in time, to welcoming their teams, customers, and partners into OEC.”
Following close of the transaction, epyx, r2c Online, and Business Gateway customers and partners can expect continuity of service, with existing contacts, agreements, and services remaining in place. Further details will be communicated to customers and partners as the transaction progresses toward close.
"Over more than two decades, we have built technologies, partnerships, and a set of relationships that fleets and repair stakeholders across the UK and Europe rely on every day,” said Aditya Varadpande, Managing Director of epyx, r2c Online, and Business Gateway. “Joining OEC reflects a strong strategic fit between organizations that share a deep commitment to the fleet and aftersales industry. We look forward to the road ahead as we work toward completing the transaction.”