Private equity firm takes stake in telematics company

Private equity firm Beech Tree has acquired a 50% stake in telematics firm RS Fleet Installations.

RS Fleet managing director Lea Hodson said the investment would help the firm to expand further into the UK fleet market.

He added: “In line with our longer term objectives, we also want to support our existing insurer customers and help them deliver their own growth plans in the telematics space.”

Beech Tree managing partner Paul Franks said: “The prospects for the business in this environment are very exciting and we look forward to supporting the management team to deliver their next phase of growth.”