Tech firm targets future growth following £580k investment
A Wilmslow tech company will be able to boost its sales and marketing operations and add to its headcount following a £580,000 funding injection.
The investment for Intelligent Building Group (IBG) is from NPIF-Maven Equity Finance, managed by Maven Capital Partners, part of the Northern Powerhouse Investment Fund (NPIF).
IBG is behind a range of smart hardware and software products that capture energy usage data and reduce energy consumption for commercial, industrial nd residential developments, by installing effective tamperproof controls.
Its products can meter, monitor, bill and control all utilities consumed by any building, including electricity, gas, water, renewables and broadband.
IBG’s technology can predict energy usage across all properties, enabling property owners and managers to source and control energy in a very efficient way, helping to reduce costs.
The global smart building market was estimated to be worth around $67.60bn in 2021 and is projected to grow to $265.37bn in 2028, and with so much focus on ESG (Environmental, Social and Governance) strategy, IBG is well positioned to support the Government’s drive to net zero carbon buildings by 2035 and Greater Manchester’s ambition to be a carbon neutral city by 2038.
IBG is headed by John Leutton, who has more than 25 years’ experience in senior sales, marketing and management roles across sectors including component distribution, energy management and digital marketing.
A team from Napthens, led by corporate senior associate Joanne Cooper and including solicitor Emily Forrester provided legal advice on the deal.
Dean Cox, senior investment manager at Maven, said: “With an ever-increasing focus on ESG, IBG’s product offering will help building owners and operators to significantly reduce their energy use and support the drive to achieve net zero carbon buildings. John is an experienced CEO and we look forward to working with him and the team, to help drive the business forward.”
John Leutton said: “The funding and support from NPIF and Maven provides us with a fantastic opportunity to further strengthen and develop our business. The property investment, development and construction landscape is rapidly evolving with more companies implementing ESG encompassing net zero carbon strategies and a growing demand for these commitments from investors, occupiers and governments in the UK and globally will provide the opportunities for growth at IBG.”
Sue Barnard, from the British Business Bank, said: “Investment into organisations that are helping to deliver a low carbon future is a priority for the Northern Powerhouse Investment Fund and we are please to support IBG on its growth journey, as it looks to create new jobs and reduce energy waste.”
