Stolen vehicle and plant recovery systems specialist Sure-Track has been acquired by a fuel card and telematics business.
Kenilworth-based Sure-Track – which also supplies fleet tracking and vehicle camera solutions has been taken over by Crewe-based Radius Payment Solutions.
It is the second acquisition in a week for Radius after it also bought commercial insurance broker The Burley Group which is based in South Yorkshire.
Bill Holmes, chief executive at Radius, 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.”
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.”
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.
This latest acquisition by Radius brings the total number of tracked vehicles and assets to over 150,000 making the company one of the largest telematics companies in Europe – having only started selling telematics 2015.
The post Fuel cards and telematics firm Radius Payment Solutions acquires West Midlands-based Sure-Track appeared first on USNewsRank.