Issue 11 2019

Acquisition International - Issue 11 2019 5 News : from around the world Radius adds to Technology Portfolio with Acquisition of Sure-Track 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 Crewe headquartered company one of the largest telematics companies in Europe having only started selling telematics 2015. Formed in 2004, Sure-Track offers a range of asset recovery and telematics products as well as vehicle cameras. Through the acquisition, Radius will boost its technical capability with a company that has pioneered new innovations especially in the tracking and recovery of stolen assets which is backed up with a 24/7 monitoring station. “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.” said Bill Holmes, Chief Executive of Radius Payment Solutions. “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.” Radius telematics devices are currently installed in over 150,000 vehicles across the globe. Now a key global player providing an array of products and services to over 300,000 customers, the group employs over 1,400 people across the globe and recently opened a state-of-the-art 66,000ft campus headquarters in Crewe, continuing to provide numerous jobs in the local area. “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,” commented Sure-Track founder and CEO Will Hirons. Crewe based Radius Payment Solutions, the group behind the vehicle tracking and fuel card brands Kinesis and UK Fuels, has acquired Sure- Track. A specialist in stolen vehicle and plant recovery systems, Midlands- based Sure-Track also supplies fleet tracking and vehicle camera solutions. Continental Grain Company sells its participation in ContiLatin del Peru to Seaboard Corporation Continental Grain Company and Seaboard Corporation have recently announced that they have concluded a transaction whereby Seaboard acquired CGC’s shares in ContiLatin del Peru S.A.. CLDP has been a joint venture between CGC and Seaboard since 2007. CLDP is a leader in the import and commercialization of agricultural commodities in Peru. Initially founded as a trade and import business, CLDP has grown into an industrial operation, with plants in Lurin and Trujillo which are engaged in grain processing, soybean extrusion, and animal feed production. David Dannov, President of Seaboard Overseas Trading Group, said: “This acquisition is consistent with Seaboard’s longstanding strategy of global integration with our wholly-owned grain trading operations. We operate grain and feed milling operations and related businesses in 42 locations in 23 countries, and those operations are primarily supplied by our commodity trading offices. CLDP with its leading position in Peru, is a key component of our presence in the region.” The multi-decade relationship between CGC and Seaboard dates back to 1966, when the two companies worked together to purchase a flour mill in Ecuador. That relationship has grown and continues to include several other joint ventures throughout Latin America and the Caribbean. André Ettedgui, Operating Partner for CGC Latin America, observed: “Our decision to exit CLDP reflects CGC’s strategy to diversify away from grain trading operations, but we know we are leaving this business in good hands with Seaboard. CGC is actively working to expand its presence in Peru and Latin America and we have a dedicated team that is actively sourcing and evaluating new investments in the region.” Joining Forces