NCBC said the acquisition, done through its TransPlatinum Service Corp. subsidiary, will expand its fuel card and merchant processing services from over-the-road vehicles to all commercial vehicle classes, including local fleets.
"TransPlatinum's niche has been the small- to medium-sized fleets in commercial vehicle classes 7 and 8 -- over-the-road trucking companies which traditionally use fuel cards in managing their fleets," said NCBC Vice Chairman and CFO Lewis Holland. "FleetOne's market niche is vehicle classes 1-6, where a real opportunity exists. About 90% of these companies have yet to contract for fuel cards and transaction processing."
FleetOne employees will be merged with the TransPlatinum staff so no personnel changes are expected, the company said.