Veeder-Root Acquires FuelQuest, Inc.
Purchase Combines Global Leader in Automatic Tank Gauging with Industry’s Premier Fuel Logistics SaaS Provider
SIMSBURY, Conn., Aug. 26, 2014 /PRNewswire/ — The Veeder-Root Company has acquired FuelQuest, Inc. Located in Houston, Texas, FuelQuest is the recognized Software as a Service (SaaS) provider for retail and commercial fueling logistics applications. With over 15 years of experience in logistics software development and analytics, FuelQuest will combine with Veeder-Root’s Insite360 Fuel business to provide a best in class, end-to-end solution for controlling wet stock from rack to nozzle.
The acquisition demonstrates Veeder-Root’s commitment to supporting retail and commercial fueling customers’ desire for increased control of their fuel purchases, deliveries, variance, flow, compliance and managed maintenance needs.
“FuelQuest brings valuable SaaS and fuel logistics expertise into Veeder-Root’s Insite360 Fuel services family, enabling us to aggressively accelerate our wet stock management technology roadmap,” said Andrew Hider, President, Veeder-Root. “This expertise, along with Veeder-Root’s market leadership position in automatic tank gauge technology, will provide immediate advantages for any retail or commercial fueling customer looking to improve operational efficiencies in fuel or compliance management.”
Scott Cilento, FuelQuest COO, noted, “FuelQuest has been rapidly growing its customer base by providing best in class analytics for fuel logistics with a customer-first approach. The partnership with Veeder-Root’s Insite360 Fuel business will provide opportunities to reach more customers with a complete software, services and hardware solution.”
The combined SaaS businesses should improve the customer experience by offering a full suite of integrated logistics and environmental services. Enabled by Veeder-Root’s industry-leading hardware, this addition to Veeder-Root’s Insite360 Fuel portfolio will allow Veeder-Root to deliver continued enhancements in wet stock management technology development to customers.
About Veeder-Root Veeder-Root [http://www.veeder.com] is a leading global supplier of automatic tank gauging, fuel management systems, and stage II vapor recovery solutions including the Red Jacket® brand of submersible pumps and pressurized line leak detectors. Veeder-Root and Red Jacket are market-leading brands with a tradition of excellence in the petroleum industry.
FuelQuest [http://www.fuelquest.com] provides industry leading software and services to suppliers, distributors, retailers, carriers and fleets who utilize transportation fuels throughout the world. FuelQuest improves profitability and abates risk for its customers by delivering solutions to manage and optimize fuel procurement, logistics, reconciliation and regulatory processes. FuelQuest is a proud winner of the 2014 Petroleum Marketers Association of America’s (PMAA) Best in the US award for Fuel Management Program.
SOURCE Veeder-Root Company