River Capital invests in innovative smart building technology group
River Capital, the Liverpool-based fund manager, has completed a £1.75m investment in Tyrrell Building Technologies Group (TBT Group), an innovative developer and provider of smart building and Internet of Things (IoT) technology and solutions.
Headquartered in Leigh, with offices in London and Dubai, TBT Group operates in numerous sectors, including blue chip organisations like Rolls Royce and Lumen, providing end-to-end smart building solutions through its three specialist divisions – Tyrrell Products, Tyrrell Systems, and Tyrrell Analytics.
The investment, made through the North West Private Equity Fund, will accelerate TBT Group’s expansion through initiatives including advancement of Halo Smart IoT, a pioneering wireless energy saving and compliance reporting technology and platform, and the Tyrrell Analytics smart buildings monitoring and reporting IoT platform.
This expansion will also enhance core business offerings and accelerate the firm’s strategic partnership with Intel and Red Hat, supporting the development of next-generation building control systems and providing access to Intel’s global distribution network.
TBT Group 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.
Ged Tyrrell, Group CEO, said: “This investment marks an exciting new chapter for TBT Group. 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, whilst critically maintaining our strong values and ethics alongside the aspiration to create more tech jobs, especially in the North West.”
Dave Furlong, Investment Director at River Capital, said: “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.”
He added: “Huge thanks to Ben Gregory from our Private Equity team for his hard work in getting this investment completed.”
The 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).
