A Rawtenstall-based company is set to be renamed following a merger.

The move comes after Sustainable Investments Ltd (SI) acquired a 76 per cent stake in family-owned IoT Horizon, based in New Hall Hey Road.

The company, which helps clients collect data and gain insights on buildings, people, processes, and assets, will now be called Sustainable Smart Technologies.

The investment from Skelmersdale-based SI comes as a strategic partnership to create 'healthier and energy-efficient buildings.'

Derek Horrocks, owner and chair of SI, said: "There are real synergies between our two businesses, with a shared vision for delivering real and positive social impact on society."

The company also retains its current management team, who will continue to lead day-to-day operations alongside managing director Niamh Allen.

Mr Horrocks said: "This investment is a purpose-led one, and our onward partnership is all about encouraging growth and innovation that directly improves and transforms lives."

IoT Horizon's expertise in building management has 'proven adaptable' for residential applications, making it a 'natural fit' with SI's housing focus.

Deyrick Allen, founder of IoT Horizon, said: “If there is one thing we want to do, it’s to play our part in ensuring healthy buildings and being able to work within SI to apply what we do in the housing decarbonisation space is a way we can make a transformational difference.

"The ethical alignment of our businesses is what makes this such a significant moment for everyone involved, and having the backing of SI is only going to help us make our vision a reality in a faster fashion."

The new name and visual identity will align with other SI businesses.