Established IT solutions firm acquired by tech services provider
Castleford-based supply chain hardware, software and services company Renovotec has acquired 100% of Jade Solutions Ltd.
Jade – which is based in Newton-le-Willows – has 30 years’ expertise in developing IT solutions.
Its specialisms include the development of contactless retail environments and its customers include Pret a Manger, Marks & Spencer, Nando’s and Bet Fred.
This latest acquisition will boost Renovotec’s annual turnover to more than £50m and increase its headcount in the UK and continental Europe to more than 160 employees.
Giles Clegg and Danielle Gibbon from law firm Lupton Fawcett’s corporate team advised Renovotec on the acquisition.
Renovotec CEO, Richard Gilliard, said: “Renovotec is now the largest consultative company in its industry. Our strategy of meeting our supply chain customers’ business needs with best-in-class technology is paying off.”
Giles Clegg, who heads the corporate team at Lupton Fawcett, added: “We are very pleased to have advised Renovotec on another acquisition. They are a pleasure to work with and are creating an exciting and dynamic group in the IT sector.
“It was also good to see a number of announcements of completed transactions from fellow Yorkshire corporate advisers in the first week of 2022 which is good for the whole Yorkshire corporate finance community.”
Jacky Buchsbaum, of Wilds, provided accounting and tax advice to Renovotec.