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.
