Inflexion's Radius Payments buys Adam Phones

The acquisition is the first since Infelxion made a minority investment in Radius in January this year. The GP invested £150m for a minority stake in the UK-headquartered provider of fleet payments and telematics, in a deal valuing the company at £800m. Inflexion drew capital for the transaction from its 2014-vintage £400m Partnership Capital Fund I.

The acquisition of Adam Phones ties in with the strategy of expanding Radius into new sectors, enabling the addition of a telecoms division to the company's existing offering.

Inflexion stated it was looking forward to further acquisitions by Radius.

Company
Founded 30 years ago, Adam Phones provides communications services to enterprises of various sizes. With licences to sell and support the UK's three major mobile networks, it aims to deliver both mobile and fixed-line connectivity.

People
Inflexion – Simon Turner (managing partner).

Advisers
Acquirer – EY (financial due diligence); Addleshaw Goddard (legal); Mazars (tax).
Company – KPMG (corporate finance); Fox Williams (legal).

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• Topics
• Expansion
• UK / Ireland
• Support services
• Build-up
• Inflexion Private Equity
• United Kingdom