Jade Solutions sells up to Renovotec to create £50m revenue reseller

Acquisition comes after Renovotec received investment from Swedish firm Röko in 2021

Rugged solutions reseller Renovotec has become a £50m-revenue player after acquiring wireless and mobility specialist Jade Solutions.

Castleford-based Renovotec claims it is now the "largest consultative company in its industry" following the acquisition, which boosts its headcount to 160 staff across the UK and continental Europe.

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".

The Honeywell, Zebra and Extreme Networks partner specialises in rugged hardware, software and services, servicing industries including warehousing, healthcare, ecommerce and manufacturing.

It recieved financial backing from Swedish investor Röko last year, in exchange for a 75 per cent stake in the business, with CEO Gilliard retaining his 25 per cent share. At the time, Gilliard said the deal will give the business "greater financial firepower" to make acquisitions and diversify its offering.

Merseyside-based Jade Solutions meanwhile specialises in retail, hospitality and transport and logistics, counting Pret a Manger, Marks & Spencer, Nando's and Betfred as its customers.

The reseller sold an 85 per cent stake to European reseller giant Econocom in 2017. But, after an unhappy marriage that lasted just two years, Jade Solutions and Econocom parted ways in 2019 after two Jade Solutions directors re-acquired the business.

Jade Solutions logged revenues of £12.8m in full-year 2020, down one per cent year on year, despite its Q4 producing its best revenue performance on record.

Renovotec meanwhile turned over £22.2m in 2020, up 10 per cent on the previous year. Its strong focus in warehousing and distribution helped to offset downturns in other sectors impacted by the pandemic, the company claimed.