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Mapping the Strategic Direction of Patrizia in Smart Buildings & Cities
February 13th, 2024Trane Technologies Commercial HVAC Business 2023 Examined
February 12th, 2024
The Rise and Fall and Rise of PSIM
Physical security information management (PSIM) has experienced a severely elongated hype-cycle since its first emergence in the mid-2000s, never really able to live up to the huge potential it promised. However, a flurry of activity this month has reinvigorated the discussion around the ambitious security approach. In this research note, we chart the history and potential future of unified security management in buildings and cities. The Rise of PSIM Ten years ago, the hype around PSIM was rising as funding flowed into the space. The technology’s pioneers were growing rapidly as a flurry of startups entered the market. Out of the 67 physical security industry alliances we identified in our 2014 report, 20% involved PSIM companies as many scrambled to get a piece of the action. On September 21st 2016, Everbridge went public at an initial public offering price of $12.00 per share. Founded in 2002, initially as 3N Global, Everbridge helps governments and enterprises […]
Influx of Capital from Private Equity Powers Smart Building Tech Space
This Research Note examines recent private equity backing of companies in the building technology space, with a focus on commercial real estate. We reviewed this topic in January 2022 in the context of growth in hybrid workplace technology. Since then, PE investors have continued to support software and technology-focused companies across the sector. There are many examples of private equity firms acquiring and investing in established players and startups in the smart buildings space. We highlight below some of the recent notable investments in building technology, workplace technology and physical security. Private Equity Acquisitions & Investments Building Technology Installation and Service After an extended bidding war between Bain and Triton, which we covered in the initial stages in our previous article, November 2022, Triton, a European mid-market sector-specialist investor, finally completed the public tender offer for Caverion Corporation, in November 2023, owning 94,39 % of the shares. Caverion is a Finland-headquartered provider of sustainable multi-technical […]
Equiem Workplace Experience Platform Business Examined
In this Research Note, we examine the Australian workplace experience platform provider, Equiem, with a focus on the evolution of their app, target markets and strategic acquisitions. Founded in 2011, Equiem launched one of the first tenant experience apps for office buildings. Currently, their workplace experience suite includes a workplace experience app, analytics tools, building operations management, and eCommerce capabilities to connect users to local retailers. Equiem One, introduced in May 2022, combines Equiem’s tenant experience, operations, and data & analytics solutions into a single, modular interface. “We believe a single platform for office building management is imminent,” Gabrielle McMillan, CEO of Equiem said. “Landlords articulate this in different ways. Some say that want all their systems “integrated”, others say they want “a one-stop-shop” for all their software needs, but what they’re really saying is they need a singular interface that brings all the features and data together in one place, for the multiple stakeholders […]
Reviewing the 2024 Smart Building Overlay to RIBA’s Plan of Work
The Royal Institute of British Architects (RIBA) has created a Smart Building Overlay to the 2020 RIBA Plan of Work, which clearly defines the stages of development in building projects. This Smart Building Overlay acts as a resource for all built environment professionals, clients and end users, looking for guidance on how to incorporate smart building technology in any building typology. “The Smart Building Overlay discusses innovative approaches to support opportunities for Smart Building Technology in any building typology, within the framework of the RIBA Plan of Work,” the organization explained. “It addresses the crossover of technology, sustainability and the built environment with principles that may be applied to any project.” The clear priority of RIBA’s Smart Building Overlay is to improve information handover between stakeholders in the various phases of a building project and ensure that smart technology concepts are incorporated during the design phase. We have been discussing these fragmented data silos and […]
#Podcast 27: The Building Performance Standards Landscape!
In our Podcast series “Sh*t You Wish Your Building Did!”, Memoori explores the intersection between technology and commercial buildings through interesting conversations. For Episode 27, we were joined by Cliff Majersik from the Institute for Market Transformation, where he helps to shape policy around energy efficiency in buildings. Will standards really drive wide-scale building decarbonization? And […]
Signify Lighting Business and Financials 2023 Examined
In this Research Note, we examine the lighting business of Signify, based on their 2023 annual results announced on 26th January 2024, investor presentations and connected lighting technology-related activities throughout the last 12 months. This is an update on our previous coverage of Signify last year. Signify (Euronext: LIGHT), headquartered in Eindhoven, the Netherlands, is the global vendor of conventional lighting, LED and connected lighting, with approximately 32,000 employees and a presence in over 70 countries. The business reported 2023 sales of EUR 6.7 billion on 26th January 2024. LED-based solutions and products represented 87% of total sales. Signify Financials Full-year sales decreased by 10.8% to EUR 6,704 million, including a negative currency effect of 3.3%, mainly due to the depreciation of the USD and CNY, and a positive effect of 0.8% from the consolidation of Fluence, Pierlite and Intelligent Lighting Controls. Comparable sales declined by 8.3%, mainly due to weakness in consumer, OEM and […]
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