(Bloomberg) -- Inflexion Private Equity Partners is considering options for Radius Payment Solutions, including a sale that could value the U.K. fuel cards and telematics firm at about 2 billion pounds ($2.7 billion), people familiar with the matter said.

The buyout firm is working with Goldman Sachs Group Inc. as it seeks to identify potential suitors for the business, the people said, asking not to be identified discussing confidential information. A sale of Radius could attract both strategic and private equity buyers, one of the people said. 

Deliberations are in the early stages and there’s no certainty they’ll lead to a formal sale process, according to the people. Representatives for Inflexion and Goldman Sachs declined to comment, while Radius couldn’t immediately be reached for comment. 

Inflexion bought a minority stake in the Crewe, Cheshire-based company in 2017 by investing 150 million pounds. Founded in 1990 mostly as a fuel card company, Radius now operates in 18 countries and has ventured into other businesses like telematics and electric cars.

Private equity deal activity in Europe is already off to a busy start this year as investors seek to deploy record amounts of capital. Singapore state-owned investor Temasek Holdings Pte is nearing a deal to buy testing company Element Materials Technology from buyout firm Bridgepoint Group Plc for almost $7 billion, Bloomberg News reported. KKR & Co. agreed to purchase Dutch bicycle maker Accell Group NV for 1.56 billion euros ($1.8 billion) amid a cycling boom spurred by the Covid-19 pandemic.

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