Convex advised the shareholders of Renovotec Ltd, a leading provider of rugged hardware, software and enterprise mobility solutions for supply chain, healthcare and field mobility customers, on a majority equity sale to Röko AB, a Sweden-headquartered investment group.
Renovotec was founded in 2009 by Lance Bennett & Richard Gilliard and is the UK’s fastest growing provider of rugged mobile hardware; as well as delivering end to end managed & consultancy services, wireless networking, enterprise mobility, mobile data capture, printing and hardware rentals solutions. With over 25 years of industry experience, Renovotec supports customers across multiple industry verticals – including Warehousing, Transport & Logistics, Seaports, Healthcare, Retail, Manufacturing and Field Mobility.
Renovotec operates out of four offices, including headquarters in Wakefield, has 75 employees and has won industry plaudits for its innovation and service.
“The relationship with Röko will give us greater financial firepower, enabling Renovotec to grow more rapidly through acquisition and diversification” says Renovotec Managing Director Richard Gilliard, who will continue as MD and will also own 25% of the company. Röko’s Investment Manager, Anders Nordby, will become Renovotec chairman. Renovotec co-founder Lance Bennett will remain on the board.
“Convex’s approach was instrumental in their selection, and once selected they proved to be outstanding in their knowledge and approach to maximising the deal value – I cannot recommend them highly enough. If you only talk to one company then make sure it is Convex.”
Lance Bennett, Founder
