11 Oct Eagle Technology acquires some synergy
Mequon Wis. – Eagle Technology Inc., the company whose automated computer system helps maintain the Milwaukee Art Museum, is extending its market reach with a new acquisition.
Eagle, a facility maintenance and asset management solutions provider based here, acquired Equipsoft Corp., a Knoxville, Tenn.-based maintenance management software vendor early this week.
“Equipsoft offers a complementary product line. The combined enterprises will result in a stronger presence in the maintenance field,” predicted Harshad Shah, president of Eagle, in a release.
Equipsoft president Rich Gabel will continue to serve the merged company as a consultant and his existing sales staff will remain in place as Eagle works to put a sales representative in each state.
“Eagle’s commitment to the maintenance market and their reputation for quality solutions and service made them an ideal merger partner,” Gabel said. “Equipsoft customers will have a stronger base of support through the merger along with an enterprise solution to meet their growth needs.”
Eagle Technology, Inc. formed Equipsoft Eagle, LLC to handle the transaction. The financial terms of the acquisition were not disclosed.
Eagle also has a wholly owned subsidiary in Monterey, Mexico.
“We’re in a mature industry and one of the ways to gain clients is to gain them through an acquisition like this,” said Harry Kohal, sales and marketing director for Eagle.
The computerized maintenance management software marketplace took shape about 20 years ago with products designed to handle preventative and demand maintenance requirements. Today, 349 CMMS vendors operate in the space, Kohal said.
In recent years, the products have become increasingly sophisticated. Eagle now offers products with multiple functions including compliance documentation and purchasing features, barcode readers, and bridges to enterprise resource planning systems and accounting systems.
Several different industries purchase these products including airports, education, manufacturing, and pharmaceutical firms. Eagle’s software used in the Milwaukee Art Museum will be used to document standards for environmental and safety conditions set by the Museums Association and ensure the proper work is scheduled and completed without reliance on management intervention.
Eagle Technology, with 25 employees, was founded in 1987 by Shah and is privately owned. The company interfaces to Johnson Controls’ Control Division, Trane, and Honeywell-Tridium as a preferred partner.
“Our products are aimed at mid to upper-end markets, and [Equipsoft] has products aimed at the entry level,” Kohal said of the complementary product lines being merged through the acquisition.
“Small-to-medium size organizations can use their products as stand-alone, independent software at each location, but they don’t have an enterprise view, whereas we do,” he added. “We have software that can allow management view for the entire enterprise.”
Gabel founded the privately owned Equipsoft in 2000. Today, the company has over 600 clients in North America, India, Singapore, and Saudi Arabia, including Reliance Home Comfort, AT&T Wireless, New England Fertilizer Co., and Consolidated Container Co.
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