Intelligent Building Group secures £580k Seed Follow On investment from Maven

NPIF – Maven Equity Finance invests £580,000 in Intelligent Building Group (IBG)

Cheshire-based PropTech business that helps to reduce energy consumption secures regional funding to scale and create new jobs

NPIF – Maven Equity Finance, managed by Maven Capital Partners (“Maven”) and part of the Northern Powerhouse Investment Fund (NPIF), has invested £580,000 in Cheshire based Intelligent Building Group (“IBG”). The funding will enable the business to invest in sales and marketing as well as expand the team across a number of departments, including operations, installations and commissioning, creating new jobs in the region.

IBG has developed a suite of smart hardware and software products that capture energy usage data and reduce energy consumption for commercial, industrial and residential developments, by installing effective tamperproof controls. The suite of products have the ability to meter, monitor, bill & control all utilities consumed by any building including electricity, gas, water, renewables and also Broadband. All the data and control systems are automatically updated and accessible via the IBG-Cloud-Based software portal.

IBG’s software can show and accurately predict energy usage, building by building or across the whole portfolio, giving property owners and managers the information to source and control energy in a very efficient way, thereby reducing costs. The software controls the physical onsite hardware in the buildings and sends the requisite data to the IBG-Cloud for real-time analysis, control and management. The business supports a growing list of commercial landlords, commercial building owners/operators, developers, and facility management companies as well as multi-site retailers.

With so much focus on ESG (Environmental, Social and Governance) strategy from institutional property investors and large developers, IBG are well positioned to support the UK Governments drive to net zero carbon buildings by 2035 and Greater Manchester’s ambition to be a carbon neutral city by 2038. The global smart building market was estimated to be worth c.$67.60 billion in 2021 and is projected to grow to $265.37 billion in 2028.

The business is led by John Leutton who has over 25 years experience in senior sales, marketing and management roles across sectors including component distribution, energy management and digitial marketing. John is supported by experienced Teams of engineers, operations, sales and 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, CEO of IBG, added:

“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.

“Delivering smart, connected, efficient and secure buildings is an essential factor in achieving ambitious net zero targets. It is a very exciting time for IBG as a specialist consultant, installer and partner to many leading businesses as we continue to advise them on their journey to net zero in the built environment.”

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. It joins a growing list of organisations within the NPIF portfolio that are helping businesses meet sustainability targetsand we look to supporting more businesses with a focus on ESG in the future.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

—ends—

Further information

For media enquiries or any questions about the investment, please contact:

Sapience Communications (PR to Maven)

Richard Morgan Evans     
020 3195 3240 
[email protected]

Maven Capital Partners

Steven Ford
07580 792 608       
[email protected]

Notes to Editors

About Maven Capital Partners UK LLP       www.mavencp.com

Maven Capital Partners UK LLP (Maven) is a lower-mid cap private equity house focused on the provision of growth capital and mezzanine finance to SMEs across the UK. It is one of the most active private equity fund managers in the country, managing over £415 million of assets for a variety of client funds, including Venture Capital Trusts, UK regional debt and equity funds, and Maven Investor Partners – a syndicate of institutional, family office and experienced investors.

Headquartered in Glasgow, and with ten other offices throughout the UK, Maven has nationwide coverage of the market for SME finance and is introduced to around 400 deals per year through 20 regionally based investment executives. With over 50 staff and partners, Maven executes a range of private company transactions, offers hands-on proactive portfolio management to investee companies and provides a fully integrated back-office support function to client and third-party fund managers. Since 2009 Maven has invested over £285 million in SMEs across the UK.

About The Northern Powerhouse Investment Fund

  • The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.
  • The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.
  • The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.
  • The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding.
  • The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
  • The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley.
  • The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at thebusinessfinanceguide.co.uk/bbb

About Intelligent Building Group

Formerly known as Eticom Limited, (“Eticom”), IBG recently acquired Renard Fire & Security (Renard), enabling it to provide a holistic approach to building services for both new build and retrofit projects. The Renard products and services provide Fire Safety, Access Control, CCTV and Intruder alarm system in commercial and multi-tenanted residential buildings.

IBG’s suite of unique smart hardware and software products have been specifically designed to improve efficiency and reduce energy consumption, particularly advantageous in multi-tenanted buildings.

Safiya Marzook

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