Orbis Partners Advises Radius Payment Solutions on Multiple Deals in 2019
Orbis Partners are pleased to announce that they have advised Radius Payment Solutions (“Radius”) on three acquisitions over a seven-week period. This follows on from a further project with Radius earlier in the year.
Radius, which has annual revenues in excess of £2.5 billion, are the group behind the telematics and fuel card brands Kinesis and UK Fuels. Dating back to 1990, Crewe-based Radius now has over 23 offices in 15 countries globally providing a market leading range of products and services to the small and medium fleet sectors. In addition, the group also offers complementary services such as insurance and business telecoms.
2019 has been an exceptional year in terms of acquisitions at Radius. We have continued to supplement our strong organic growth with strategic acquisitions in specific areas. We are delighted that Orbis have assisted us on these transactions and look forward to working with Peter and his team again in the coming years.
Gavin Jones, Head of M&A
The first project was the acquisition of Sure-Track, a Midlands-based telematics company offering a range of solutions to the vehicle and plant markets, including vehicle tracking and camera systems, fleet telematics software, asset recovery & anti-theft tracking devices. Established in 2002, Sure-Track products have a good reputation in the market and was acquired as an enhancement to the existing telematics division. Radius now has over 200,000 vehicles on its own telematics platform and is one of the world’s fastest growing companies in this sector.
The second project was the acquisition of London-based business telecoms provider, Trinity Maxwell. Established in 2011, Trinity Maxwell provides an extensive range of business telecoms solutions, covering mobile, fixed and hosted telephony and unified communications solutions. It serves a predominantly London-centric customer base with a focus on professional services organisations. The acquisition formed a key part of Radius’ strategy for telecoms, building a strong platform from which to market to the group’s existing base of over 70,000 customers, adding to the diverse range of technology led offerings already available.
Most recently Orbis advised Radius on the acquisition of Reliance IP Networks in Macclesfield, a specialised provider of fixed line and VOIP solutions to a range of businesses predominantly across the North West of England. Radius see Reliance as a good fit within its growing telecoms business, providing complementary products and technical skills.
We are pleased to have been able to work with Radius on this series of acquisitions. The group has a clear growth strategy which it has been focused on implementing during this year. We are confident that these four businesses will provide an enhanced service to clients and add value to their existing platforms.
Orbis were engaged by Radius to provide financial due diligence services on each of the above acquisitions. The Orbis team comprised Partner Chris Gregory, Associate Director Peter Bull and Analyst Adam Grenfell.
The project completed earlier in the year was the acquisition of Plant-I, the Machynlleth based provider of vehicle tracking and telemetry solutions and specialists in connected camera technology for the plant and construction sectors.