Singapore Energy Services Startup Barghest Building Performance Secures Seven-Figure Mezzanine Funding From PE Firm Tembusu Partners
Singapore, 3 June 2015 – Homegrown energy efficiency services startup Barghest Building Performance (“BBP”) announced today that it has secured a seven-figure mezzanine investment from leading Singapore private equity firm, Tembusu Partners Pte Ltd (“Tembusu Partners”).
Tembusu Partners manages close to S$300 million and has a strong track record in investing in high growth enterprises across Asia. It is making the mezzanine investment out of Tembusu Growth GIP Fund III (“TGIP III”) – which has a target size of S$150 million – and is TGIP III’s first investment.
Tembusu Partners is believed to be among the first few local PE firms to adopt this innovative structure for private equity in BBP, which is taking place at a time when governments and private companies are seeking new energy efficiency technologies to minimise their environmental impact and related costs.
Energy comprises up to 60% of operational costs of a building. BBP has a variety of energy conservation solutions, which optimize existing building systems and equipment such as energy-intensive chiller plants.
BBP provides energy optimisation services to companies in Singapore’s hospitality, industrial, office and retail sectors; the company plans to expand to Malaysia and Thailand in the near future. BBP’s current clients achieve cumulative energy savings of over 17 Million kWh per year
BBP’s scalable, continuous optimization solutions draw on cloud technology to deliver real-time insights and minute-level control, as well as data-driven maintenance and preventative systems. The solutions maintain cool temperatures within buildings while consuming less energy and reducing costs.
The solutions can be installed within any building management system, without implementation or operational risks, at no up-front cost to clients. BBP is paid through either a pre-agreed portion of the clients’ long-term energy savings or a fixed monthly payment.
BBP also supports clients in attaining the Green Mark Certification, the Singapore Government’s green rating system that evaluates buildings’ environmental impact and performance. BBP recently assisted Philips Lumileds Singapore in attaining Green Mark’s prestigious Platinum award for Existing Buildings, acting in a consultation role as well as offering their unique services.
BBP will use the seven-figure investment to further grow its client base across more sectors in Singapore and the surrounding region.
Mr. Poyan Rajamand, Chief Executive Officer of BBP, said, “BBP expects to be at the forefront of sector growth in Southeast Asia, and we are excited that Tembusu Partners is joining us on this journey. This investment will allow us to scale up our operations and engage major companies to facilitate greater cost savings and reduce environmental impact for clients in the region.”
Mr. Andy Lim, Chairman and Founder of Tembusu Partners, said, “Tembusu Partners is pleased to invest in BBP – a company with a successful track record and high calibre client base. Singapore has fast-tracked itself to become a regional centre for green innovation, and Tembusu Partners is proud to support this homegrown success.”
“We are confident that our investment in BBP will reap rewards not just for our clients, but for Singapore as well. With governments across the region becoming more environmentally conscious, BBP and Tembusu Partners will be well placed to help Southeast Asia become greener,” he added.
– End of Press Release –
Issued on behalf of Barghest Building Performance Pte Ltd and Tembusu Partners Pte Ltd by WeR1 Consultants Pte Ltd:
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About Barghest Building Performance Pte Ltd
Barghest Building Performance (BBP) offers energy conservation solutions that help buildings operate their existing equipment at optimal levels, thereby achieving long-term measureable and sustainable energy savings. BBP provides solutions without upfront costs to clients and is paid through the energy savings achieved. Besides their primary focus on air conditioning systems, BBP offers a range of energy efficiency-related services, including support in Green Mark Certification processes. BBP team members have been involved in numerous projects to help clients reach their Energy Efficiency and Green Mark Certification goals.
For more information, please visit: http://www.bbp.sg/
About Tembusu Partners Pte Ltd
Tembusu Partners is a private equity investment firm, with a view to generate optimal returns for both investee companies and investors. Headquartered in Singapore, its primary geographical markets are within Emerging Asia – comprising China, India and Southeast Asia. It currently has five funds under management.
For more information, please visit: http://www.tembusupartners.com/
About Tembusu Growth GIP Fund III
Tembusu Growth GIP Fund III (“TGIP III”) is a Pan-Asian private equity fund focused on producing investment outperformance through a disciplined investment and value creation process, with aims to achieve medium to long-term capital appreciation.
TGIP III will be the third Singapore-based fund managed by Tembusu Partners. Approved under the Global Investor Programme, and rated by Mercer as a “Preferred Provider” in 2014, TGIP III welcomes investors who qualify for Permanent Resident status in Singapore as well as other accredited investors who seek private equity exposure in high growth small caps across Asia.
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