Intelligent Building Group receives £580,000 investment
Funding to scale and create new jobs
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, 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 targets and 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.