Edgenet assets acquired by former executives
Three former executives of Edgenet have acquired the assets of the tech firm that helped companies in the home improvement space and beyond track and organize digital data.
EdgeAQ completed the purchase from Edgenet Inc. on June 16 as part of a Chapter 11 363 sale. The company will continue to do business as Edgenet.
Described as a “cloud-based technology innovator,” Edgenet was the company behind Big Hammer, which it acquired in 2008. Challenges servicing its debt forced the company to declare bankruptcy earlier this year and resulted in the 363 sale.
The new executive team includes CEO Steve Proctor, COO Tim Stafford and CFO Chris Dowdy. All three previously worked for Edgenet during its peak growth from 1999 to 2008.
“Edgenet has great technology, great employees and a strong customer base,” said Proctor. “The 363 sale allowed us to choose performing assets that are best positioned for growth. Edgenet should return to profitability quickly with the right strategic focus and renewed commitment to our customers.”
Proctor and Stafford return to Edgenet from Oracle, where Proctor was recognized as one of its top 1% performers. Dowdy recently served as CFO for customer care operations at Asurion.
Edgenet has 60 employees and offices in Nashville, Tennessee; Milwaukee, Wisconsin; and Atlanta.
Fi-Foil names Newman regional sales manager
Fi-Foil Company, maker of energy-efficient reflective insulation and radiation barriers, named Tony Newman to the post of regional sales manager.
Between 2000 and 2010, Newman managed sales and operations for Genesis Insulation Inc./Energy Efficient Consulting. He also has additional administrative experience working for Cross-Man Holdings, where he was project manager for tenant improvement, and also provided budget management services.
“We are very excited to have Tony on board — his background as an insulation contractor and many years in the building industry will be an invaluable asset to our future growth” said Michael Hayes, Fi-Foil’s VP sales.
New at Knipex: Angled pliers
Knipex Tools introduced a series of angled pliers and cutters.
The German-made Orbis angled pliers and cutters feature an innovative 25-degree comfort angle that makes the tool a natural extension of the user’s hand, according to the manufacturer.
The 25-degree, 8-in., angled, long-nose pliers features three different-sized pulling grooves, preserving a tight grip when holding or pulling round items.
“Nothing is more frustrating than reaching into a tight place and pulling a spring or other round object and having it slip out of the long nose pliers. These pulling grooves make this task so much easier and less stressful,” said Alan Sipe, president and general manager, Knipex Tools.
Arlington Heights, Ill.-based Knipex Tools LP is the North American sales and marketing organization of Knipex‐Werk.
The 25-degree, 7 ½-in., angled combination pliers are designed with a greater gripping surface for a steady and consistent grip on pipes and connections. The serrated tips provide a consistent grip during detailed work to produce optimal results.
For tough, continuous use, the 25-degree 7-in. angled diagonal cutter has a high-leverage design, which allows for 30 percent more cutting power. Similar to the angled long nose and angled combination pliers, the diagonal cutter’s induction-hardened cutting edges cut any hard wire, piano wire and ACSR, in addition to copper and aluminum.
The 25-degree 8 ¾-in. angled cable cutter produces clean cuts on aluminum cables, single and multiple wires, including soft copper up to 2/0 AWG without crushing or deformation. To provide safe operation the angled cable cutter is equipped with a locking mechanism when the tool is not in use.