Radius Payment Solutions Acquire Plant-i
Radius Payments Solutions (Radius) are the group behind the telematics and fuel card brands Kinesis and UK Fuels. Dating back to 1990, Crewe-based Radius now has over 21 offices in 14 countries globally and have a market-leading range of products servicing small and medium vehicle fleets.
Radius has acquired Plant-I, providers of vehicle tracking and telemetry solutions and specialists in connected camera technology for the plant and construction sectors.
The acquisition will take Radius to 120,000 connected devices which makes the group one of the largest European telematics companies. In addition, Plant-i’s market-leading connected camera technology solution will enhance Radius’ offering considerably.
Plant-i is a fantastic business that will enhance our technical capability and brings with it many high-quality people to Radius. We were very pleased with the work Orbis did for us on this acquisition using their expertise to help us evaluate the business fully and efficiently. We look forward to working with the team again in the future.
Gavin Jones, Head of M&A
Orbis Partners undertook a detailed investigation of the historical and current financial performance of Plant-I. Working closely with Radius, Orbis helped to form a view on the underlying trading of the business as well as evaluating trends in historical sales and profitability for the business and evaluating the business’s working capital requirements.
- Worked with Radius to agree on a formal scope for the due diligence
- Worked closely with the business and their accountants to form a view on the underlying trends and trading of the business as well as advising on a normal level of working capital
- Undertook a detailed investigation of the historical and current financial performance and position of the company, with a particular focus on the drivers of performance and key customer and supplier relationships
- Evaluated and reported on key financial controls and processes in place
- Provided regular updates and presented a written report to the Buyer on the conclusions and findings of our work.