Commercial Buildings

Last week’s live stream provided a comprehensive analysis of the smart building startup ecosystem, focusing on investment trends, acquisition activity, and market dynamics for the first half of 2025. The session covered key data insights, market consolidation patterns, and strategic considerations for companies operating in the commercial building technology space. In this research note, you […]

This Research Note examines Equans, a €19.2 billion business unit of Bouyges group, which offers a wide range of multi-technical services that contribute to increasing the overall performance of buildings.  We review their building services portfolio and 2024 revenues before highlighting Equans Digital activities in the smart buildings space. This article updates our previous coverage of […]

This Research Note examines what’s behind the Vertiv acquisition of Waylay, a Belgian startup offering an IoT orchestration platform. We highlight the transaction details, strategic rationale, Waylay profile, and Vertiv’s product and services portfolio before providing a Memoori view of the technology acquired. Transaction Details and Strategic Rationale In August 2025, Vertiv Holdings, a vendor […]

This Research Note examines the Building Solutions business of Vinci Energies, highlighting its focus, vertical markets, and financial performance of its operations, based on its 2024 financial results and Capital Markets Day presentation. Vinci Energies Building Solutions Profile Vinci Energies offers a range of electrical and multi-technical solutions and services for commercial and industrial buildings, […]

This Research Note explores our assessment of Honeywell’s market position in the European building automation products market.    We review the revenue mix for the Honeywell Building Automation division, examine the latest financial data of two subsidiaries, Trend Control Systems based in the UK and Saia-Burgess Controls based in Switzerland, concluding with our view of […]

This Research Note examines the recent Legence Corp. filing at the US SEC for an Initial Public Offering.  We highlight the transaction details, profile the business segments offering engineering, installation and maintenance services and sustainability consulting, and explore the financial highlights of the $2.1 billion revenue company. Transaction Details Blackstone is exploring a potential sale […]

In this Research Note, we examine Haltian Oy, the Finnish developer of IoT hardware and software solutions for the built environment. This analysis, updating our September 2024 article on Haltian, focuses on the company’s recently launched products and solutions, its financial performance 2020 – 2024, funding, and deployments. Haltian Profile Founded in 2012, Haltian is […]