Radius has acquired Wrexham-based telematics provider Trackyou. The deal adds more than 20,000 vehicles to Radius’ rapidly growing tracking business. All 40 of Trackyou’s team will join Radius, which specialises in providing services to the public sector.
Bill Holmes, chief executive at Radius Payment Solutions, said:
“Radius has acquired an exciting technology company with an outstanding track record of research and development in telematics. The purchase allows Radius to rapidly expand into the larger fleet segment where Trackyou has great experience. We feel our brands and systems align really well and by acquiring Trackyou, we’re confident we can offer one of the best range of telematics solutions on the market.”
The move forms part of Radius’ growth plans, which have included the opening of a new tech centre in Manchester and the company’s expansion into South-East Asia where it has launched offices in Singapore and Malaysia.
Addleshaw Goddard‘s Manchester corporate team advised Radius Payment Solutions on the acquisition. The Addleshaw Goddard team was led by partner Roger Hart and included managing associates Oliver Hincks and Jamie Partridge and associate Dean Cox.
An RSM team, led by corporate finance partner James Wild with support from Nick Wyatt, James Jarvis and Matt Ritchie, acted as lead adviser to Trackyou on the transaction. Gunnercooke’s Nick Ducker, Sarah Bennett, Benjamin Zarman and Dean Cox acted as legal advisers to the shareholders.