Osborne Clarke has advised long standing client Fleetcor Technologies, Inc. (NYSE: FTL), the leading global provider of fuel cards and workforce payment products to businesses, on its joint venture with growth equity investor Summit Partners to acquire Masternaut Group Holdings Limited, Europe's largest provider of telematics solutions to commercial fleets, from Francisco Partners.

The Osborne Clarke team was led by corporate partners Simon Spooner and Paul Cooper who were assisted by Tom Adams and Daisy Brown. The deal is the latest of several transactions in the European telematics sector on which Osborne Clarke has advised in the last 18 months.