Wireless Energy Management Systems International (WEMS), a Stockport, UK-based provider of the world’s first fully wireless and web-enabled building energy management system, has sold a majority equity stake and raised growth capital in a GBP13m financing led by private equity fund manager WHEB Partners and including Hermes GPE through the Hermes GPE Environmental Innovation Fund.
The company’s wireless building management systems (BMS) technology brings down installation and monitoring costs for commercial energy management solutions. This allows retailers, telecoms companies and other companies with estates of small commercial buildings to achieve annual energy savings of 15 to 30 per cent without requiring labour-intensive, wired retrofits.
The system is designed to operate and control heating, ventilation and air-conditioning, lighting and security systems across multiple locations. The company also offers an outsourced, contract-based energy management services from its energy centre in Stockport.
“The combination of our proven technology with the networks and expertise offered by WHEB make this an exciting growth inflection point for WEMS,” says technical director and co-founder Joe Blower. “We are experiencing strong demand here in the UK and there are clearly international opportunities too.”
Blower founded the business with Steve Dillon, who is retiring following the investment from WHEB Partners. WEMS was founded in 1990 and posted a turnover of GBP12m in its last financial year. The company’s customers include British Telecom, Boots, HMV, Matalan, Waterstones, Fitness First and Nationwide Building Society.
“We are very pleased to have been chosen by WEMS as its equity partner,” says James McNaught-Davis, managing partner of WHEB Partners, who led the deal. “WEMS’ energy efficiency solution provides deep savings and improved management information while also being highly cost-effective and widely accessible. As such, this deal perfectly exemplifies the resource efficiency theme in which WHEB invests. More broadly, WEMS presents another shining example of the role that UK technology leaders can play in the green industrial revolution gathering momentum around the world.”