Stay connected
Subscribe to our fleet blog and follow us on social media to receive all our fuel and energy industry insights.
Nashville, Tennessee, October 16, 2012 – Electronic Funds Source, LLC, (“EFS”), the leader in innovative and customized payment solutions for the transportation industry, announced today its acquisition of T-Chek Systems, Inc. (“T-Chek”), Eden Prairie, MN, from C.H. Robinson Worldwide, Inc. (“C.H. Robinson”)
“We are extremely excited about the synergies and strategic benefits of combining these two highly complementary cultures”, said Scott R. Phillips, president and chief executive officer of EFS. “T-Chek brings exciting new markets and products to EFS in addition to seasoned human capital with strong industry experience.”
“We are proud of T-Chek’s success and of T-Chek’s employees, who built a very strong business with a long track record of growth,” said John P. Wiehoff, chief executive officer of C.H. Robinson. “As the payment services industry continues to consolidate and evolve, scale and alignment with the financial services sector are becoming increasingly important. EFS is an excellent organization and we felt, for T-Chek’s long term success, that strategically it was the right time for T-Chek to join forces with EFS.”
“As the industries continue to advance, the T-Chek business and the customers they serve are a much better strategic fit within EFS”, said Phillips. Phillips further added, “The convergence of the two companies will bring exciting new payment and technology solutions to the transportation industry. Much like our merger between TCH and EFSTS, we do not expect T-Chek customers to require a card change or reissuance, nor work with new customer support personnel as we systematically upgrade both applications using the best solutions from the combined environments.”