RSM’s corporate finance team has acted on the sale of asset and vehicle tracking specialist Trackyou Limited to Radius Payment Solutions, a payment solution and fleet service company.
Based in Wrexham, Trackyou delivers cutting edge telematics services for clients throughout the public and private sector. The deal adds more than 20,000 vehicles to Radius Payment Solutions’ rapidly growing telematics business and brings together two complementary businesses – strengthening the offering of leading fleet and logistics provider Radius and enhancing the global reach of Trackyou’s technology.
The RSM team, led by corporate finance partner James Wild with support from Nick Wyatt, James Jarvis and Matt Ritchie acted as lead advisor to Trackyou on the transaction.
James Wild, corporate finance partner at RSM, said:
‘As a long standing client of RSM, we are delighted with the outcome for Trackyou and to have been involved in such a significant transaction in the telematics sector. We believe that Trackyou represents an ideal platform to enable growth in a strategic sector for Radius’
Alex Rodda, the founder of Trackyou said:
‘Having established Trackyou over 15 years ago I am extremely proud of what I, and the team at Trackyou, have achieved so far. We have a market leading product and a highly skilled team and Radius stood out to me as the perfect home and the right partner so I am extremely pleased with the result. I will remain involved in the business and look forward to working with Radius to continue to grow the business.’
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.’