Maidenhead-based FuelsPricing, a provider of retail and wholesale fuel pricing software solutions, has reached a strategic agreement to work with PDI, a global provider of enterprise software solutions to the convenience retail, wholesale petroleum and logistics industries.
Founded in 1990 by CEO Mark Scanlon, FuelsPricing began as a custom solution to support the PriceWatch Campaign launched by Esso UK in 1995 to guarantee motorists competitive prices.
FuelsPricing grew into a broader commercial offering, and now services customers in over 50 countries, ranging from independent retailers to large multinational oil companies, including over 35,000 retail service stations and over 100,000 B2B shipping locations for petroleum wholesalers.
PDI services more than 1,500 customers in over 200,000 locations worldwide. The strategic agreement will expand PDI’s Enterprise software platform, providing expertise in fuel pricing forecasting and optimisation.
A GCA Altium team, comprising Adrian Reed, Jon Stead and Mitchell Parr, advised FuelsPricing. The agreement represents GCA Altium’s sixteenth in the tech-enabled services sector to date in 2018, reinforcing the firm’s reputation as one of the leading M&A advisors in this sector.
Mark Scanlon, founder and CEO of FuelsPricing, said: “We are delighted to reach a strategic agreement with PDI. PDI’s focus on innovation, global reach, industry expertise, and reputation for excellent customer service and employee engagement align seamlessly with FuelsPricing’s long-term goals and evolution. GCA assisted our team to navigate the agreement that was initiated in February 2018. Without their support I highly doubt the agreement would have happened. I did not appreciate the level of the work effort involved at the outset and the daily support from the GCA team was first class.”
Jimmy Frangis, CEO of PDI, said: “We are excited to add the FuelsPricing solutions to PDI’s software platform. FuelsPricing was an early innovator in designing pricing systems and algorithms that have since become the price optimisation engine of choice for many of the world’s most successful fuel operators. The addition of FuelsPricing allows PDI to extend its leadership in the global fuel industry to front end systems, helping our customers optimise and drive revenue and margin to improve overall business performance.”
Adrian Reed, Managing Director at GCA Altium, said: “We are delighted to have advised FuelsPricing in achieving this strategic agreement. Helping entrepreneurs understand the complexity of the process surrounding the agreement and supporting them throughout the negotiations is what we do. I was particularly pleased to convince Mark of the value of our services. We look forward to watching FuelsPricing continue to develop alongside PDI.”