Inflexion Partnership Capital has acquired a minority stake in Radius Payment Solutions in a deal which values the company at £800m.
The investment was valued at £150m and gives Inflexion a minority share in the company.
Founded in 1990, Radius is a fleet payments and telematics provider for small and medium sized fleets across Europe, North America, and Asia. The company offers clients fuel cards, which enables members of a fleet to easily pay for refuels at a competitive price. Alongside this the company has a MasterCard for fleet drivers to use while they are on the go and in the middle of a delivery.
The UK-headquartered company has evolved its solutions to the telematics sector and now offers insurance products for its customers. Radius is also looking to develop its product offering as vehicle technology evokes.
Radius CEO & founder Bill Holmes said, “We’ve been exploring ways in which we can achieve the next stage of our growth and believe Inflexion Partnership Capital has the right culture, expertise and support to grow the business further with its exciting overseas network.”
Last year the private equity firm took part in Global Reach Partners acquisition of FC Exchange, which is a money transfer service. Through this buyout, the company was expecting to increase its transactions to over £5.5bn annually.
Other company’s currently in Inflexion’s portfolio include: UK foreign exchange specialist Global Reach Partners, insurance broker Bollington Wilson Group, and wealth management solution Succession.
Copyright © 2017 FinTech Global