Wireless Energy Management Systems International Raises £13M in Equity Financing
Wireless Energy Management Systems International Limited (WEMS), a Stockport, UK-based provider of a fully wireless and web-enabled building energy management system, has raised £13m in equity financing.
The company sold a majority equity stake to private equity fund manager WHEB Partners. Hermes GPE also took part in the transaction through the Hermes GPE Environmental Innovation Fund.
The company provides retailers, telecoms companies and other companies with a wireless building management system that enables them to operate and control Heating, Ventilation and Air- Conditioning (HVAC), lighting and security systems across multiple commercial locations. The company also offers an outsourced, contract-based energy management services from its Energy Centre in Stockport.
Co-founded in 1990 by Technical Director Joe Blower and Steve Dillon, WEMS was founded in 1990 and posted a turnover of £12m in its last financial year. Customers include British Telecom (BT), Boots, HMV, Matalan, Waterstones, Fitness First and Nationwide Building Society.