Jade specialises in the development of contactless retail environments and its customers include Pret a Manger, Marks & Spencer, Nando’s and Bet Fred.

A spokesman said: "This latest acquisition will boost Renovotec’s annual turnover to more than £50 million and increase its headcount in the UK and continental Europe to more than 160 employees.

Giles Clegg and Danielle Gibbon from 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 said: “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.

Renovotec acquires Jade Solutions to create £50m turnover business with 160 staff