Jade Solutions, a Newton-le-Willows based company whose growth has been supported to date by MSIF, has recently been acquired by European IT group Econocom for an undisclosed sum.
Jade Solutions offers a comprehensive selection of products and services in the mobile technology and Wi-Fi spaces. The company has particular expertise in rugged mobile technology such as handheld and vehicle-mounted computers, and also designs and installs wireless networks and guest Wi-Fi systems.
Jade’s Crowd Wi-Fi solution allows retailers to enhance their customers’ shopping experience by offering free Wi-Fi with tailored messaging, and to understand and influence that experience in real time. Jade’s customers include well-known high street names such as Clarks Shoes, who have recently implemented Crowd across the UK, Marks and Spencer and McDonalds Restaurants.
MSIF first invested in Jade Solutions in 2005 to support the Management Buy Out (MBO) of the business, and has provided further funding on two subsequent occasions to support the further growth of the company. Jade has annual sales of approximately £13m and employs 45 people.
Econocom is a European company specialising in the digital transformation of organisations and is quoted on the Brussels stock exchange with revenue of 2.5 billion euros.
Marion Savill, Portfolio Director at MSIF, said: “Jade Solutions has built an excellent reputation with a wide range of blue chip customers during its time as an independent company, and MSIF is proud to have supported the business over that period. Being part of the Econocom group, and therefore working alongside similar businesses across Europe, will enable them to expand even further. It is great to know this business will continue to thrive in its future, and we wish them every success.”
Mark Brackley, Managing Director of Jade Solutions, added “The opportunities now open to us as part of such a large international group are extremely exciting. The support and advice we have received from MSIF over the past 12 years have been key in helping us to reach this point. Their willingness to take a longer term view than many other equity investors has given us the chance to develop market-leading expertise in the UK, which now gives us the platform for our future growth.”
Throughout the acquisition Jade Solution’s shareholders were advised by Craig Scott of local Liverpool law firm, Hill Dickinson.