HgCapital sold Epyx to Fleetcor, a US-based fuel payment processing business listed on the NYSE.
Epyx is a pure cloud business, providing a private electronic marketplace serving vehicle fleet operators in the UK. Epyx’s services enable customers and suppliers in this industry to reduce costs and increase efficiency across multiple business processes, via a marketplace which connects UK’s vehicle fleet operators and 9,000+ suppliers of critical services to these fleets.
The realisation of Epyx represented a multiple of 2.7x original cost and a gross IRR of c. 27%.