Radius Payment Solutions acquires vehicle tech firm
Crewe-based Radius Payment Solutions, the group behind the vehicle tracking and fuel card brands Kinesis and UK Fuels, has acquired Sure-Track.
The Midlands-based specialist in stolen vehicle and plant recovery systems, which also supplies fleet tracking and vehicle camera solutions, was acquired for an undisclosed sum.
Earlier this year Radius was recognised as one of the UK’s largest private companies and ranked 19th in the 2019 Sunday Times HSBC Top Track 100 list having seen turnover grow to 2.5 billion in 2019.
The latest acquisition brings the total number of tracked vehicles and assets to over 150,000, making the company one of the largest telematics companies in Europe.
Formed in 2004, Sure-Track offers a range of asset recovery and telematics products as well as vehicle cameras.
Through the acquisition, Radius said it will boost its technical capability, especially in the tracking and recovery of stolen assets which is backed up with a 24/7 monitoring station.
“The acquisition of Sure-Track brings another dimension to our growing telematics business by acquiring the technology, expertise and services for the tracking and recovery of stolen vehicles and plant,” said Bill Holmes, Chief Executive of Radius Payment Solutions.
“Increasingly insurers are turning to telematics to reduce risk, not only by protecting assets but also through monitoring driving to improve safety.
“We can now offer a complete range of solutions and through integration with our fuel cards, purchasing and insurance platform, we can offer everything businesses need to manage their mobile assets.”
Radius telematics devices are currently installed in over 150,000 vehicles across the globe.
The firm employs over 1,400 people across the globe and recently opened a campus headquarters in Crewe.
Sure-Track founder and CEO Will Hirons added: “Joining the Radius group represents a major landmark for Sure-Track and will open up the market both in the UK and overseas to our technological innovations that we’ve developed over the past 15 years.”