AIM-listed group buys Brum proptech firm out of liquidation

Aukett Swanke, a company providing smart buildings, architectural and design services, has revealed that its subsidiary Torpedo Factory has bought certain assets of RTS, the Birmingham company which trades as Vanti out of liquidation.

Vanti provided master system integration and smart building software to commercial properties.

Aukett Swanke says it will take on new staff to be based in a new Birmingham office to form group’s smart buildings offering.

RTS was founded in 2006 but on the back of a lack of funding was liquidated on 18 March.

Aukett Swanke paid around £37,000 for the company, with an additional up to £50,000 payable over the next 18 months dependent on meeting certain financial performance conditions deriving from the transfer and retention of certain RTS clients.

Nick Clark, chief executive of Aukett Swanke, said: “Vanti has been known to the management of our Torpedo Factory Group business for many years. They are well known in the smart buildings sphere, having been contributors to the recent RIBA publication Smart Building Overlay to the RIBA Plan of Work and spoken at this year’s Smart Building Conference in Barcelona.

“Despite its apparently small scale, this purchase provides us with access to a wealth of experience in the delivery of smart building systems. We are delighted to be expanding TFG’s interests to the West Midlands with the opening of a Birmingham office, and to welcome former Vanti employees to the group. We are also excited by the opportunities for the software assets.”

Vanti worked on Birmingham’s first smart-enabled buildings at One Centenary Way, part of the £1.2bn Paradise development, and the £30m Enterprise Wharf development.

The company also worked across the UK with several internationally recognised organisations such as Informa, Citigroup and Tottenham Hotspur FC.