Fleet services business Radius has completed yet another acquisition.
The Crewe-based business has taken over stolen vehicle recovery (SVR) telematics business CanTrack.
Based in Milton Keynes, CanTrack protects high value assets worth over half a billion pounds in total, using its unique software platform.
It also had a rapidly growing live tracking business that complements its SVR division.
Radius CEO Bill Homes said: “Peter and his team have built a really great business over the last 17 years and have a strong customer base that includes some prestigious accounts.
“This acquisition further strengthens our telematics division as we continue with our plan to build a product set that is unparalleled in the global marketplace.
“We are really looking forward to working with Peter and his team to continue their success and start rolling out their products across the growing Radius SME customer base both in the 海角视频 and our other markets.”
Peter Thompson, managing director of CanTrack, said: “Our growth in recent years has been exceptional, and we’ve been considering partnering with a larger global player for some time as our clients’ needs become more complex. We had no shortage of suitors, but Radius clearly stood out to us as the best fit.
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“They’re an incredibly exciting company, full of passionate people who have a track record in sustainable growth and delivering on objectives. Culturally, there was a strong alignment, which was incredibly important to us.
“We’re also proud to be part of a British success story, which is now one of the world’s top five businesses in our space. The entire senior team at CanTrack including myself will be staying on, and we’re excited to bring the wider product portfolio to our clients.”
Radius’ latest acquisition comes just weeks after it acquired North Sheilds-based The Frontier Group as part of its plans for national expansion.