Aquitas Solutions, a TRM Company - Comprehensive Analysis Report
Summary
Aquitas Solutions, established in 2006 and now operating as Aquitas Solutions, a TRM Company, is a leading provider of Enterprise Asset Management (EAM) and Internet of Things (IoT) solutions. The company's core mission is to strategically and collaboratively work with globally recognized EAM and IoT platform providers to enhance business value and deliver bottom-line benefits to its clients. They are recognized for optimizing asset-intensive industries through advanced technologies and strategic consulting, with a strong focus on digital transformation.
1. Strategic Focus & Objectives
Core Objectives
Aquitas Solutions' main business objectives revolve around optimizing asset performance, improving productivity, and enhancing service levels for organizations with complex operational requirements. The company aims to achieve these goals through strategic consulting and the deployment of advanced EAM and IoT technologies. Their long-term vision includes advancing digital transformation leadership in asset-intensive industries and delivering faster, smarter, and more agile solutions to streamline client processes and improve efficiency.
Specialization Areas
The company specializes in implementing and integrating EAM and IoT solutions. Key areas of expertise include IBM Maximo implementation and managed services, industrial connectivity, industrial IoT, augmented reality, smart connected products, master data governance, and ESG reporting. They also offer support for TRIRIGA services, an Integrated Workplace Management System.
Target Markets
Aquitas Solutions targets a wide range of asset-intensive industries, including Manufacturing, Oil & Gas, Utilities, Transportation, Public Sector, Life Sciences and Healthcare, Facilities, Consumer Packaged Goods, and Data Centers.
2. Financial Overview
Funding History
Aquitas Solutions is a private company. It was acquired by Total Resource Management (TRM) on April 21, 2025. Prior to its acquisition, its estimated annual revenue was $5.7 million.
3. Product Pipeline
Key Products/Services
Enterprise Asset Management (EAM):
Description: Specializing in managing capital assets within a single system, with a core offering of IBM Maximo.
Development Stage: Fully developed and implemented for clients.
Target Market/Condition: Asset-intensive industries seeking to optimize asset performance and lifecycle management.
Key Features and Benefits: Centralized asset data, improved maintenance scheduling, reduced downtime, enhanced regulatory compliance.
Industrial IoT (IIoT):
Description: Developing IoT roadmaps, providing sensor installation, and integrating connected assets for smarter maintenance practices.
Development Stage: Mature service offering.
Target Market/Condition: Industries looking to leverage real-time data for asset optimization and predictive maintenance.
Key Features and Benefits: Data collection, real-time insights, proactive maintenance, improved operational efficiency.
Augmented Reality (AR):
Description: Providing AR solutions for skills development, knowledge transfer, and driving operational efficiencies in maintenance, including demonstrations of leading AR tools.
Development Stage: Actively implemented in client projects.
Target Market/Condition: Industries seeking innovative ways to enhance training, maintenance procedures, and operational safety.
Key Features and Benefits: Enhanced training, remote assistance, improved accuracy in maintenance tasks, reduced errors.
Smart Connected Products:
Description: Enabling smarter maintenance through connected assets and providing sensor solutions to monitor asset performance.
Development Stage: Utilized in client solutions.
Target Market/Condition: Companies aiming to embed intelligence into their products for remote monitoring and predictive service.
Key Features and Benefits: Real-time performance monitoring, predictive failure alerts, optimized product lifespan.
Master Data Governance:
Description: Assisting organizations in developing standard conventions and processes for asset and inventory data.
Development Stage: Ongoing service offering.
Target Market/Condition: Organizations needing to ensure data accuracy, consistency, and compliance across their asset management systems.
Key Features and Benefits: Improved data quality, streamlined reporting, enhanced decision-making.
TRIRIGA Services:
Description: Offering implementation, upgrades, integrations, data migration, training, and support for IBM TRIRIGA, an Integrated Workplace Management System.
Development Stage: Introduced in May 2024.
Target Market/Condition: Organizations seeking to optimize their real estate portfolios, facilities, and workplace operations.
Key Features and Benefits: Enhanced space utilization, reduced operational costs, improved facility management.
Proprietary Accelerators/Solutions:
Description: Includes MaximoNOW, PredictNOW, TranslateNOW, and Crows Nest for program management. The Connected Maintenance Wheel is a framework that integrates IoT, predictive analytics, and mobile tools.
Development Stage: Fully developed and deployed.
Target Market/Condition: Clients requiring accelerated implementation, predictive capabilities, and holistic maintenance management.
Key Features and Benefits: Faster time-to-value, enhanced predictive capabilities, streamlined program management, real-time insights.
4. Technology & Innovation
Technology Stack
Aquitas Solutions leverages leading EAM and IoT platforms, primarily focusing on IBM Maximo and the Maximo Application Suite (MAS). Their technological offerings encompass:
Enterprise Asset Management (EAM): Centered around IBM Maximo for comprehensive capital asset management.
Industrial IoT (IIoT): Utilizes sensor technology and data integration for real-time asset monitoring and predictive analytics.
Augmented Reality (AR): Integrates AR tools for practical applications in maintenance and training.
Smart Connected Products: Employs sensor solutions for monitoring product performance.
Master Data Governance: Focuses on establishing standard conventions for asset and inventory data.
TRIRIGA Services: Supports IBM TRIRIGA for integrated workplace management.
Proprietary Developments: Includes accelerators like MaximoNOW, PredictNOW, TranslateNOW, and Crows Nest, along with the Connected Maintenance Wheel framework.
5. Leadership & Management
Executive Team
Wayne Brisson: Founder and Chairman. A U.S. Navy veteran with extensive experience in maintenance management and a key figure in MRO Software's Maximo Professional Services division. He holds an MBA from the University of Rhode Island.
Jeff Brown: COO of TRM (formerly CEO of Aquitas Solutions). Joined Aquitas Solutions in 2011, bringing deep domain expertise in IT infrastructure and extensive experience managing Maximo projects. He is ITIL and Maximo certified, holding a BSBA in MIS and an MBA.
Scott Farrens: Chief Financial Officer. Oversees all financial operations, strategic planning, forecasting, and project management. He has extensive experience from Accenture and Deloitte and holds a BSBA from The University of South Dakota.
Mike Beasley: EVP, Sales and Marketing. Brings over two decades of experience in asset management, with leadership roles at EY, IBM, Eastman Kodak, Cohesive Solutions, and Arcadian Networks. He holds a degree in Marketing.
Ray Miciek: EVP, Strategic Alliances. With two decades of asset and service management experience, he has been instrumental in Aquitas’ success in the EAM market, previously holding leadership roles at MRO Software and IBM.
James Lewis: EVP, Operations. Responsible for day-to-day operations, including operational strategy, driving growth, and building customer and partner relationships. He has a background as an Engineer Officer in the US Army and Navy.
Recent Leadership Changes
April 2025: Following the acquisition by Total Resource Management (TRM), Jeff Brown, formerly CEO of Aquitas Solutions, transitioned to COO of TRM.
January 2025: Trish Gosch joined Aquitas Solutions as Senior Sales Director, bringing over 25 years of EAM industry experience.
April 2021: Ray Miciek's role shifted to focus on partnership development and strategic alliances, and Mike Beasley joined to lead the consolidated sales and marketing organization.
6. Talent and Growth Indicators
Hiring Trends and Workforce
Aquitas Solutions, as a TRM Company, has an estimated employee count of approximately 21-50. Prior to the acquisition, Aquitas Solutions had grown its employee count by 2% in the preceding year, with an estimated 49 employees. The company's focus on EAM and IoT solutions suggests ongoing demand for specialized talent in these growing fields. The acquisition by TRM indicates a phase of integration offering potential for expanded operations and hiring opportunities as the combined entity leverages increased capacity and a broader service portfolio.
7. Social Media Presence and Engagement
Digital Footprint
Aquitas Solutions maintains a professional presence on platforms such as LinkedIn. The company utilizes its website's resources section to publish webinars, white papers, blogs, and information on upcoming events, showcasing its thought leadership in EAM and IoT. Their brand messaging emphasizes expertise in asset optimization, digital transformation, and the utilization of technologies like IBM Maximo, IoT, and Augmented Reality.
8. Recognition and Awards
Industry Recognition
MaximoWorld Awards 2019: Aquitas Solutions, in partnership with Leprino Foods, received the "Best AI/Machine Learning/IIoT Implementation" award. They also won the "Best Data Alignment with Business Processes" award with Agropur at MaximoWorld 2019.
LiveWorx 2020: Their Connected Maintenance solution, integrating ThingWorx and IBM Maximo, was presented as an award-winning solution.
9. Competitive Analysis
Major Competitors
Aquitas Solutions operates within the IT Consulting and Outsourcing industry, specifically in the Enterprise Asset Management (EAM) and Industrial IoT sectors.
Direct Competitors (EAM and IoT): Asset Analytix, AssetWorks, TECHFORGE Solutions, Synergis Technologies.
Broader IT Consulting Firms: Deloitte Consulting, Cognizant, Tata Consultancy Services, Accenture, IBM Consulting, Wipro, Birlasoft, Capgemini Services, and HP Enterprise Consulting. These firms also serve as alternatives for IBM Security VARs and IBM Consulting Services.
10. Market Analysis
Market Overview
The market for Enterprise Asset Management (EAM) and Industrial IoT (IIoT) solutions is characterized by strong growth, driven by the increasing demand for operational excellence across asset-intensive industries. Significant trends include the adoption of digital transformation strategies, particularly AI-driven asset performance optimization and cloud-based EAM solutions. There is considerable market interest in integrated asset management, augmented reality for maintenance and training, smart connected products, and master data governance, all aimed at improving efficiency and data utilization. The market is also propelled by the need for companies to reduce costs, enhance service reliability, and improve power quality.
11. Strategic Partnerships
IBM: Aquitas Solutions is a Gold Level IBM Business Partner, specializing in solutions leveraging IBM Maximo and the Maximo Application Suite (MAS). They also provide support for IBM TRIRIGA services, an Integrated Workplace Management System.
PTC: The company partners with PTC, integrating solutions like ThingWorx to enhance connected maintenance offerings.
Boston Dynamics: Aquitas has collaborated with Boston Dynamics to explore the value and use cases of dynamic sensing with Spot the Agile Mobile Robot.
12. Operational Insights
Aquitas Solutions distinguishes itself through deep domain expertise in asset-intensive industries and its early adoption of IoT technologies. Key competitive advantages include a history of delivering agile and efficient solutions, strategic collaborations with leading technology providers such as IBM and PTC, and a comprehensive service portfolio encompassing EAM implementation, augmented reality, and master data governance. The company is committed to connecting people, processes, and technology to minimize downtime and enhance collaboration. The recent acquisition by Total Resource Management (TRM) has strengthened its market position, creating a unified team with expanded expertise, increased delivery capacity, and a broader range of service lines, thereby solidifying its leadership in digital transformation for asset-intensive industries.
13. Future Outlook
Strategic Roadmap
Following its acquisition by Total Resource Management (TRM) in April 2025, Aquitas Solutions is strongly positioned for accelerated growth and expanded capabilities. The combined entity benefits from a larger team of consultants and enhanced delivery capacity. Future strategic directions include further advancement in AI-driven asset performance optimization, continued focus on cloud-based EAM solutions, and specialization in critical industries such as Utilities, Energy, Public Sector, Manufacturing, Pharma, CPG, and Transportation, often incorporating GxP-compliant workflows. The company is also committed to developing innovative IoT solution offerings and improving maintenance operations through digital transformation, building upon its Connected Maintenance portfolio. The expansion into TRIRIGA services strategically broadens its offerings to address a wider range of workplace management needs. Aquitas aims to continue leveraging its strengths in EAM and IoT to drive strategic alliances and expand into new market segments.
