TECS Group is a leading national provider of technology enabled building compliance and critical safety services.
Put simply, TECS look after buildings and their occupants ensuring that they are safe and secure at all times. The services provided are critical to their customers and are delivered by a national team of mobile engineers.
The UK market is growing substantially and is only becoming more relevant following the tragedy at Grenfell Tower in June 2017. The types of services provided are non-discretionary to their customers and include: Fire Safety, Gas Safety, Electrical Testing & Water Treatment.
TECS's key USP is its proprietary compliance monitoring portal. The market in which the Group operates has suffered from limited technological development and a lack of transparency. In response, TECS has developed its proprietary technology platform to disrupt the fragmented nature of the industry.
Business of the Group
TECS Group was founded by entrepreneurs, Rory Chichester (CEO) and Oliver Hutley (COO) who have in excess of 15 years direct industry experience. They were joined by experienced CFO, Mike Vincent in January 2019 and together form the Management Team.
The Group is a specialist provider of technology enabled building compliance and critical safety services. The types of services delivered include: Fire Safety, Gas Safety, Electrical Testing and Water Treatment. These services are non-discretionary to customers and covered by strict regulation & legislation. The market in which TECS operates is growing substantially and is only becoming more relevant following the tragedy at Grenfell Tower in June 2017.
Underpinning the Group’s operations is a Computer Aided Facilities Management (CAFM) platform and bespoke integrated compliance monitoring portal which allows customers to assess the compliance status of their building in real-time. This functionality is particularly important in a post-Grenfell Tower regulatory environment where transparency is vital to owners, occupiers and their agents. The portal has now been rolled out across the Group’s existing portfolio of customers with further development planned for 2019 that is focused on key industry trends: Remote Monitoring & Condition Based Maintenance. All IP relating to the portal is fully owned by TECS.
Following a sustained period of investment into developing a solid and scalable operating platform, the Group is now embarking on its next stage of growth. This will be achieved by concentrating on the demand for these regulation driven compliance services which will be accessed by further strategic bolt-on acquisitions and investment in organic expansion.
Overview of Operations
The Group categorises its individual services into three key engineering divisions and then separately the managed solutions division which combines all services, alongside leveraging external expertise where required.
Each service has its unique legislative requirements and the Group’s cross-service expertise allows it to adopt the best solution for the management of its customers buildings.
The divisions and activities carried out by each division of the Group are summarised follows:
Power & Air Division
- Air Conditioning & Refrigeration
- Building Management Systems
- Electrical Testing & Inspection
- Portable Appliance Testing
- Lightning Protection
Gas & Water Division
- Commercial Gas
- Domestic Gas
- Water Treatment
Fire & Access
- Fire Systems
- Fire Safety Audits
- Access Control
- Total Facilities Management
- Mechanical & Electrical
- Reactive Maintenance
- White Labelling
- Remote Monitoring
- Project Financing
The outsourcing of everyday activities required for businesses to function has led to the growth of a £120bn Facilities Management market in the UK. According to IBIS, the market is expected to grow by 3.2% CAGR over the next 5 years to reach a value of £139bn in 2021.
The markets in which the Group currently operates, and is targeting are subject to strict regulation and legislation and they remain obligatory irrespective of budgetary pressures and other demands.
Examples of UK regulations driving demand and markets in which the Group currently operates include:
Gas Safety (Gas & Water Division)
Electricity at Work (Power & Air Division)
F Gas Regulations (Power & Air Division)
Water Supply Regulations (Gas & Water Division)
Fire Safety Order (Fire & Access Division)
The market in the UK is subject to a number of favourable characteristics including:
- Recurring revenues promoting forward earnings visibility
- Services are non-discretionary to customers
- Increasingly complex legislation
- Outsourcing trends
- Limited technological development
- Central Government pressures
Building on the acquisitions completed to date, the Group will continue to target the acquisition of businesses that provide these regulation driven services and ultimately ensure that customers remain operationally focussed and compliant.