A company that develops and supplies ‘smart building’ tech to customers including Rolls Royce secures £1.75m via Liverpool business funder River Capital. Tony McDonough reports
Small business funding specialist River Capital has announced a £1.75m investment into a ‘smart building’ specialist.
Tyrrell Building Technologies Group (TBT Group), a market-leading developer and provider of smart building and Internet of Things (IoT) technology. Clients include Rolls Royce and Lumen.
Headquartered in Leigh, with offices in London and Dubai, TBT Group has established itself as a trusted partner to its customers across numerous sectors, providing end-to-end smart building tech through its three specialist divisions.
It has three specialist divisions – Tyrrell Products, Tyrrell Systems, and Tyrrell Analytics. This new investment will accelerate TBT’s expansion through initiatives including advancement of Halo Smart IoT, a pioneering wireless energy saving and compliance reporting technology.
Liverpool-based River Capital provided the cash through the North West Private Equity Fund. This expansion will also enhance core business offerings and accelerate the firm’s strategic partnership with Intel and Red Hat.
TBT’s products help their clients deliver significant savings, increase their efficiency, effectively monitor their estate and through close engagement, take actions to deliver their ESG goals with the benefit of highly intuitive data.
Ged Tyrrell, chief executive of TBT Group, said: “River Capital’s support is instrumental for the expansion of products and services essential in meeting the growing demands of the smart building space.
“The investment will facilitate the expansion of all teams, with particular attention to sales, marketing, research and development. We look forward to working with the team to deliver the next phase of our growth strategy.”
The business is working with a number of Northern UK customers such as Merseyrail, Gentoo and various Welsh County Councils. The regions will benefit from the funding through key strategic hires as the business looks to scale its operations.
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Dave Furlong, investment director at River Capital, added: “TBT Group is exactly the type of business we look to support – a highly ambitious company with strong leadership, outstanding products, and significant growth potential.
“Under Ged’s leadership, TBT has built an exceptional reputation in the smart building sector, and we’re excited to help accelerate their growth journey.”
This investment was supported by Addleshaw Goddard (legal), Sedulo (financial due diligence), and The Quinn Partnership (management due diligence) and for TBT Group by Hill Dickinson (legal) and KPMG (investment advisors).
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