Acquisition of ecoDriver Ltd

Aukett Swanke Group is pleased to announce the acquisition of TR Control Systems Ltd, which has been renamed ecoDriver Ltd immediately on acquisition. The change of name reflects the focus on its award-winning energy management software and related energy efficiency services.

The acquisition is a further step in the Group’s strategy to become a leading provider of Smart Building technology.

ecoDriver’s revenues are derived from the provision of their proprietary ecoDriver energy monitoring software, energy efficiency consultancy services, and the provision of IoT sensors and other hardware to monitor environmental and other data. The company operates in a high growth business segment and ASG’s directors believe that it can grow rapidly as part of the Group, by accessing the Group’s customer base and contacts, and utilising the Group’s operational delivery capabilities. In addition, the acquisition brings an extensive ‘data lake’ from ecoDriver’s installed base of operational sensors. This is likely to be of significant value to the Group as it explores the use of Artificial Intelligence (AI) to deliver scalable decision-making around energy usage in the built environment.

John Taylor, chairman and co-founder, is stepping down as part of the transaction. Jamie Finnan remains Managing Director of ecoDriver and will be supported by Sarah Taylor, Business Manager and co-founder.

 

Nick Clark, Chief Executive of Aukett Swanke, commented:

“We are pleased to have completed a third acquisition in our Smart Buildings strategy, following the purchases of Torpedo Factory Group in March and Anders+Kern in July this year. ecoDriver is a relatively small but impressive business, which brings proprietary IP and recurring revenues to the Group. Further, we believe that the Group’s management systems, client base, and resources will enable ecoDriver to scale rapidly. We welcome Jamie Finnan and the ecoDriver team to the Group.

The Acquisition gives us scope to develop the use of Artificial Intelligence in building management as the Group continues to expand both its Smart Buildings and architecture activities.”

 

The ecoDriver website can be found at www.ecodriver.co.uk