Radius Payment Solutions, the group behind the telematics and fuel card brands Kinesis and UK Fuels, has acquired Sure-Track.
A specialist in stolen vehicle and plant recovery systems, Sure-Track also supplies fleet tracking and vehicle camera solutions.
The acquisition is the second announced in less than a week, with fleet, transportation and construction insurance provider, The Burley Group, also added to Radius’ portfolio.
Bill Holmes, Chief Executive of Radius Payment Solutions (pictured), said: “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.
“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.”
Commenting on the deal, Sure-Track founder and CEO Will Hirons, said: “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.”
Radius is one of the UK’s largest private companies and is ranked 19th in the 2019 Sunday Times HSBC Top Track 100 list having seen turnover grow to £2.5 billion in 2019. This latest acquisition by Radius brings the total number of tracked vehicles and assets to more than 150,000 making Radius one of the largest telematics companies in Europe.