Francisco Partners-backed OEConnection buys Corpay's UK vehicle maintenance unit
Corpay has completed the sale of its UK-based vehicle maintenance business to OEConnection, a Francisco Partners portfolio company.
Corpay, Inc. (NYSE: CPAY) has completed the sale of its UK-based vehicles maintenance business to OEConnection (OEC), a portfolio company of Francisco Partners. The transaction was announced as completed on November 4, 2026.
Corpay said the divestiture is its second Vehicle Payments sale this year and part of a shift toward Corporate Payments. The company expects the deal to be neutral to its 2026 Cash EPS outlook, with share repurchases offsetting the earnings contribution of the business sold.
Barclays and J.P. Morgan acted as financial advisers to Corpay, and Jones Day acted as its legal counsel.
Deal facts
- Target
- Corpay UK vehicle maintenance business
- Business
- UK-based vehicle maintenance business carved out of Corpay
- Acquirer
- OEConnection
- Backed by
- Francisco Partners
- Seller
- Corpay
- Deal type
- Add-on
- Advisers
- Barclays financial adviser to Corpay
- J.P. Morgan financial adviser to Corpay
- Jones Day legal counsel to Corpay
- Status
- Completed
- Announced
- Wednesday, November 4, 2026
Sources
- MarketScreenerNov 4, 2026
- Business WireNov 4, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.