Radius Payment Solutions, a global solutions provider to the small and medium fleet sector, has acquired commercial insurance broker The Burley Group.
Owner of Kinesis and UK Fuels, the 1.2 million fuel cards that Radius provides to fleet operators are used to buy more than three billion litres of diesel a year. Its telematics solution is also currently installed in more 150,000 vehicles across the globe.
A provider of fleet, transportation and construction insurance, The Burley Group is one of South Yorkshire’s largest independent insurance brokers.
Following its acquisition for an undisclosed sum, Burley sees significant opportunities for growth of its fleet insurance business through access to UK Fuel card holders and in the development of telematics-linked products.
Bill Holmes, chief executive of Radius, said: “This move is a great move for Radius as it significantly strengthens our insurance division with a company that has a long history of providing great service to its customers. We plan to both significantly expand the sales operation as well as create new products driven by data from our telematics platform.
“We look forward to working with the managing director, Matt Mawson, and his experienced team over the months ahead as we start to develop and execute our plans.” said.
Mawson commented: “Joining the Radius group of companies represents a fantastic opportunity for the business and our staff. Aligned, as we are, to the transport sector we sit perfectly with Radius’ fuel card and telematics businesses, providing a great opportunity to maximise growth through its divisions.”