Strategic Investment Fuels TRM's Expansion and Innovation in
Asset Management Solutions
ALEXANDRIA, Va., Aug. 1, 2024
/PRNewswire-PRWeb/ -- Total Resource Management, Inc. (TRM), a
leading provider of reliability and maintenance solutions,
announced today that it has secured a strategic investment from 424
Capital to accelerate its growth and expand its service offerings
in the asset management sector. This partnership marks a
significant milestone in TRM's history, providing the resources
needed to propel the company's ambitious expansion plans
forward.
With 424 Capital's support, TRM will enhance its suite of
innovative Enterprise Asset Management (EAM) and Asset Performance
Management (APM) solutions. The partnership will increase TRM's
investments in AI powered solutions, EAM platforms, high security
cloud, operational technologies, and critical infrastructure
protection.
In addition to enhancing its technology and service offerings,
TRM aims to expand its market presence through strategic
acquisitions and partnerships. The company plans to target growth
in electrical and water utilities, manufacturing, and other
critical infrastructure sectors where forward-thinking asset
management solutions are needed to increase reliability and
throughput.
"Partnering with 424 Capital is a transformative step for TRM,"
said Don Omura, CEO of TRM. "This
strategic investment will allow us to accelerate our innovation
initiatives and deliver cutting-edge solutions that empower our
clients to achieve digital and operational excellence in asset
management. We're excited to expand our reach into new markets and
enhance the value we provide to our clients."
"424 Capital invests in high-quality businesses that are making
a positive impact, and TRM could not be more reflective of our
strategy," said Kyle Stanbro, a
Partner at 424 Capital who led the investment in TRM. "Inadequate
electrical grids and aging water infrastructure are creating
problems that need to be solved by innovative technology partners
like TRM. We look forward to supporting the company as they add
capabilities to an already impressive suite of services."
The partnership with 424 Capital will also support TRM's efforts
to attract and retain top talent in the industry to ensure the
company remains at the forefront of innovation and customer
value.
About Total Resource Management, Inc.:
Total Resource Management specializes in seamlessly integrating
operational expertise and market leading Enterprise Asset
Management (EAM) and Asset Performance Management (APM) digital
technologies – from IBM, SAP, and AspenTech – to elevate your
organization's asset management practices. As gaps between your
people, processes, and technology are eliminated you'll achieve
better reliability and millions in savings.
Learn more at www.trmnet.com.
About 424 Capital:
424 Capital is a capital partner that invests in lower middle
market companies in the tech enabled services space. 424 Capital
works in partnership with founders and management teams to
accelerate and scale for long-term growth. 424 invests in,
empowers, and enables companies to step up, stand out, and make a
difference in the world.
For more information about 424 Capital, please visit
424capital.com.
Media Contact
Justin Law, Total Resource
Management, Inc., 1 703.548.4285, justin.law@trmnet.com,
www.trmnet.com
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SOURCE Total Resource Management, Inc.