River Capital’s Ben Gregory & Dave Furlong and TBT’s Ged Tyrell.
Press Release:
North West fund manager River Capital is proud to announce that it has completed a £1.75m investment in Tyrrell Building Technologies Group Limited (TBT Group), a market-leading and highly 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 has established itself as a trusted partner to its customers across 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’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.
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.
Ged Tyrrell, CEO of TBT Group, 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.”
“We were in the unique position to have a few investors to choose from, we chose River Capital because of their passion for North West business growth, their positive attitude towards success and their fantastic track record with other businesses they have already worked with. On top of that, the cultural match of a hard-working professional team, focussed on the best possible results, aligned with our values and ethics made it a ‘no-brainer’ for us in our desire to secure a partnership with River Capital.”
Dave Furlong, Investment Director at River Capital, commented:
“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.
River Capital are here to support and develop the growth of ambitious businesses across the region and are proud to have TBT Group in our portfolio. We look forward to delivering significant success together. 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).
ENDS