Payment giant Radius grows Northern Ireland footprint with latest deal
North west fuel card company Radius Payment Solutions has expanded its footprint in Northern Ireland after snapping up Belfast-based telecoms firm, Rainbow Communications.
Established over 20 years ago by founders Eric Carson & Martin Hamill, Rainbow supplies a full range of services including connectivity, hosted VOIP and mobile to its 10,000 business customers.
This acquisition represents the eighth by Radius in this sector in the last two years and increases its non-mobile base as well as giving a strong foothold in Ireland from which to continue growing.
Crewe-headquartered Radius, the group behind the telematics and fuel card brands Kinesis and UK Fuels, has been operating in Ireland through its DCI brand for nearly 25 years. This latest acquisition will now give DCI the opportunity to increase the range of products it can sell to its base of business customers.
Bill Holmes, Radius CEO, said: “Eric and Martin have built a really great business over the last 20 years and have a strong customer base that includes many of Northern Ireland’s TOP 200 Companies.
“We are really looking forward to working with their team to continue this success and innovate further with products and services over the years ahead.”
The acquisition follows Radius’ investment in Tariffcom, a telecom pricing consultancy, earlier this year.
A team from EY, led by Steven Kingham and Jace Swift, provided financial and taxation due diligence to Radius on the Rainbow acquisition.