Eversheds Sutherland is happy to announce that the agency represented FLEETCOR Applied sciences, Inc., a number one world enterprise funds firm, within the definitive settlement to accumulate ALE Options, Inc. (ALE), a number one supplier of lodging options to the insurance coverage trade. By buying ALE, FLEETCOR extends its lodging enterprise into the insurance coverage vertical. The transaction is anticipated to shut within the third quarter of 2021, topic to regulatory approval and customary closing circumstances.
Based in 2001, ALE manages the lodging wants of policyholders displaced from their properties as a consequence of harm or disaster on behalf of property insurance coverage carriers. The acquisition additional extends FLEETCOR’s specialised lodging options into the insurance coverage vertical past its present workforce and airline verticals. FLEETCOR expects a rise of roughly 5 million room nights per 12 months and the addition of tens of 1000’s of long-term housing leases upon completion of the ALE acquisition.
Eversheds Sutherland Associate David S. Phillips led the transaction with help from Companions Brian M. Murphy, Michael A. Hepburn, Rob Plowden, Jeremy D. Spier; Associates Kyle Brown, Joseph A. Bennett, Alexander F.L. Sand; Workers Legal professional Bonnie R. Burke; and Of Counsel Reggie J. Clark.
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