In some situations one radiator might suffice, in others you would need several. It all depends on the heat load that's being put into the loop.
Calculate the TDP (TDP = power consumption = roughly the heat output) of the components in the loop, and get a radiator setup (whether that be one or multiple) that can handle it. If your radiator/s can cope with the heat output of the loop, adding in more wont get you any more performance. If they cant deal with the heat, your delta's (difference between water and ambient temp) will suffer as a result until you either back off the heat output or put in more radiators.
In my loop, I require multiple radiators. I started with one RS360 radiator, with $7 fans I like to keep at around 900RPM to keep them quiet. This worked fine for just the CPU, because the heat output was 100W at most (after overclocking + pump) and the rad with those fans could easily handle that. Then I include a 7970, that adds another ~220W of heat dump into the loop, meaning now there's about 320W to deal with.
My RS360 cant handle that with my fans running as slow as they are, and making them faster leads to more noise which defeats half the point of water-cooling, and just letting the loop run hot really defeats the other half.
So I got another radiator, which has allowed me to deal with that extra heat and keep my fans running slow.
It all depends on your loop. With just a CPU, then any 240mm rad will do fine in all likelihood. If your running water-cooled Quad Crossfire, good luck trying to cool it all with a single radiator and have decent temperatures.