Private equity group River Capital has invested £1.75m in UK smart building and IoT firm Tyrrell Building Technologies (TBT).

Headquartered in Leigh, with offices in London and Dubai, TBT has established itself as a partner to its customers across numerous sectors including blue-chip organisations such as Rolls Royce and Lumen, providing end-to-end smart building offerings through three specialist divisions – Tyrrell Products, Tyrrell Systems and Tyrrell Analytics.

The investment should accelerate TBT’s expansion through initiatives including the advancement of Halo Smart IoT, a wireless energy saving and compliance reporting technology and platform, and the Tyrrell Analytics smart buildings monitoring and reporting IoT platform.

This expansion should also enhance core business offerings and accelerate the firm’s partnership with Intel and Red Hat, supporting the development of building control systems and providing access to Intel’s global distribution network.

TBT’s products help their clients deliver savings, increase efficiency, monitor their estates and, through close engagement, take actions to deliver ESG goals with the benefit of intuitive data.

The business is working with a number of northern UK customers such as Merseyrail and Gentoo and various Welsh county councils. The regions should benefit from the funding through key hires as the business looks to scale its operations.

“This investment marks an exciting new chapter for TBT,” said Ged Tyrrell, CEO of TBT. “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, while critically maintaining our strong values and ethics alongside the aspiration to create more tech jobs, especially in the north west.”

He said TBT was 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,” he said. “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 (rivercapitaluk.com), added: “TBT 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 its growth journey.”

TBT (tyrrellbuildingtechnologies.com) is a smart building and IoT provider, specialising in real-time environmental monitoring, energy efficiency and process automation. With a strong presence in the UK and plans for international expansion, TBT is dedicated to transforming the built environment through technology. It is rapidly scaling its operations, investing in hires and expanding into the USA and UAE. The company’s vision extends to establishing an electronics manufacturing facility in north-west England.