Arecont Vision®, the industry leader in IP-based megapixel camera and video surveillance solutions, announced that it has executed an asset purchase agreement (the “Purchase Agreement”) with an affiliate of Turnspire Capital Partners, LLC (“Turnspire”) under which Turnspire will acquire substantially all of the Company’s assets. As previously announced, the Company has initiated proceedings under chapter 11 of the United States Bankruptcy Code in the District of Delaware (“Court”) to facilitate the Purchase Agreement and substantially reduce its debt. Key Elements of the Purchase Agreement: “Through this partnership, Arecont Vision is poised for growth. Reducing our debt and putting resources back into the business will ensure greater innovation, larger strategic partnerships, and a stronger company for all of our constituents,” said Raul Calderon, Chief Operating Officer and General Manager, Arecont Vision. “Since we began the chapter 11, operations have been running very smoothly. We are appreciative of the support of our employees, customers and vendors, and look forward to closing the sale and emerging in July a stronger, more competitive company.” The Company has also filed a bid procedures and sale motion with the Court. The Turnspire bid will be subject to an auction at which it will be subject to higher and better offers, and requires Court approval. Arecont Vision has requested a bid deadline of June 29, 2018, 4:00 p.m., prevailing Eastern Time; an auction date of July 5, 2018; and a Sale Hearing on or about July 6, 2018. Court filings as well as other information related to the restructuring are available at www.omnimgt.com/arecont or by calling the restructuring information hotline, 844-378-2736 (toll free in North America) or +1-818-906-8300 (International). The Company is advised by the law firm of Pachulski, Stang, Ziehl & Jones LLP, Armory Strategic Partners as the Company’s chief restructuring officer and financial advisor, and Imperial Capital as the Company’s investment banker. ABOUT ARECONT VISION ABOUT TURNSPIRE CAPITAL PARTNERS via Blogger Arecont Vision LLC Signs Asset Purchase Agreement
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Guerdon Modular buildings, the leading manufacturer of large-scale, commercial modular construction projects in the Western US and Canada, has promoted Michael Merle from hospitality division director to vice president of business development. This announcement follows the retirement of Dan Horne who held the business development position for 17 years. “Michael’s promotion is part of a succession plan that has been Guerdon’s strategy for quite some time,” said Jerry Goodwin, Guerdon CEO. “He is well equipped to manage Guerdon’s growing business development efforts and we are all looking forward to where Michael will take us.” Merle will lead Guerdon’s business development team in all aspects of new business. As hospitality division director, he grew Guerdon’s hospitality segment from limited offerings to more than 80% of the company’s current pipeline. About Guerdon Modular Buildings via Blogger Guerdon New VP of Business Development
FLIR Systems, Inc. (NASDAQ: FLIR) announced the release of the FLIR T1010 – a new addition to the T1K series of HD thermal imaging cameras. This latest model includes software upgrades that will make all T1K series cameras more responsive and intuitive to use. When combined with the features that define the T1K as FLIR’s flagship handheld camera – HD resolution, precision HDIR lenses, proprietary image processing solutions, and thoughtful, ergonomic design – the T1010 and T1020 can help users find problem areas faster, gather detailed, accurate temperature information, and streamline their workday. The T1010 is a lower-cost entry point to the expert lineup of T1K cameras. It offers the same 1024 x 768 (786,432 pixels) HD detector as the T1020, which can be boosted to 3.1 Megapixels thanks to FLIR’s unique UltraMax® image enhancement. Like all T1K cameras, the T1010 uses high-fidelity OSX Precision HDIR optics, which FLIR designed specifically to work with HD detectors for greater image clarity and measurement accuracy. The T1010 offers the same compact, reinforced design with a 120° rotating optical block, so users can scan targets at any angle while maintaining a comfortable position. As FLIR releases the T1010, it is also upgrading the firmware for the entire T1K family. This latest version offers an updated graphical user interface (GUI) that’s as agile and responsive as a smartphone. New features include 1-Touch Level/Span, for improving image contrast, and customizable work folders to help streamline reporting. The latest firmware is integrated with all new T1010 and T1020 cameras, and also can be downloaded for free from FLIR customer support (http://flir.custhelp.com). “The new GUI is a significant upgrade to what was already an industry-leading camera,” said Rickard Lindvall, General Manager of Instruments at FLIR. “By giving the T1K the feeling and responsiveness of a smart phone or tablet, we’re making it more accessible to new users. And it allows us to add on-screen tools that users really wanted, like 1-Touch Level/Span – which helps users fix the contrast on the target just by touching the screen.” About FLIR Systems via Blogger Upgrades to FLIR Premiere Handheld HD Cameras SuperMoney, a leading financial service comparison site, has announced the launch of an innovative new No-Fee Financing Platform that offers affordable point of sale financing opportunities for small businesses nationwide. Built on top of SuperMoney’s consumer loan offer engine technology – which has exceeded more than half a billion dollars in loan requests since launching one year ago – the company’s new No-Fee Financing Platform is making point of sale financing available for merchants and service providers across all industries including home improvement, healthcare and specialty retail. Small businesses can get set up to offer financing in a matter of minutes with this sleek new platform and SuperMoney is partnering with banks, credit unions, and direct lenders to provide competing financing offers for the consumer. “We are empowering businesses with a full-featured point of sale financing solution that has been unattainable for millions of small businesses nationwide,” said Miron Lulic, founder and CEO of SuperMoney. “Until now, the point of sale financing options available to small businesses have been archaic and painfully expensive.” Because small businesses represent more than 99% of US companies, millions of businesses have been suffering from expensive and inefficient financing solutions for their customers – with rates typically up to 10%. “We’re expanding opportunities for merchants to boost sales at no cost to them,” said Lulic. “It’s also allowing consumers the opportunity to receive competing financing offers with more transparency when making purchases. This is a game-changer for economic growth.” For more information, visit https://www.supermoney.com/point-of-sale-financing/. About SuperMoney via Blogger SuperMoney Launches Financing for Small Business Growth Katerra, a technology company redefining the construction industry, and Michael Green Architecture Inc. (MGA), a globally recognized leader in mass timber architecture, announced a partnership today that underscores a profound evolution in the design and construction industries. The two companies share the same vision for the future in which quality and efficiency align with reducing costs and affordability, from initial design, through the life of the building. This new partnership will bring together technology, manufacturing, and design excellence to offer more sustainable, cost effective, and elegant architecture options to North American and global markets. In becoming a Katerra Company, MGA’s leadership and team will remain fundamentally unchanged and continue to provide their clients with thoughtful and sustainable solutions of all scales and typologies. With the support of Katerra’s technology expertise and production capability, MGA’s impact will grow through an increased project scope that will offer clientele a broader range of cost and construction options. “Katerra is thrilled to welcome MGA,” said Michael Marks, chairman and co-founder of Katerra. “Michael Green and his team have built a reputation for engaging design and leadership in the use of mass timber. This goes a long way to support our mission to utilize cutting-edge technology and systems to revolutionize the construction industry.” “MGA is excited to become a part of the Katerra ecosystem,” said Michael Green, CEO and President of MGA. “MGA and Katerra both aim to provide elegant, sustainable, high-performance, affordable buildings. Katerra’s goal to accomplish this on a large scale aligns with MGA’s long-term ambition. MGA is determined to create a meaningful and lasting legacy for our clients, the planet, and the social well-being of the people living on it.” About Katerra About MGA Media Contacts via Blogger Michael Green Architecture Joins Katerra Subway makes domestic closing and relocation decisions on a case-by-case basis and it’s focusing major expansion efforts in markets such as China where it sees pent-up demand. The chain will also focus growth efforts on Europe, South Korea, India and Saudi Arabia. Read the Nation’s Restaurant News story here via Blogger Subway sees demand for new restaurants in global markets Canadian coffee chain Tim Hortons has confirmed it will open its first Northern Ireland store, with more to follow later this year. Tim Hortons will open on Belfast’s Fountain Street, confirming the first of “a number of locations” due to open in the north this year, some of which will be drive-thrus. Read The Irish News story here via Blogger Tim Hortons grows UK presence into N. Ireland IKEA has signed a deal with Chile-based retailer Falabella to start opening stores in South America as part of its push to expand into new markets, the Sweden-based furniture retailer said. It plans to open nine or more locations in Peru, Chile and Colombia over the next decade and will also launch online sales. Read the Reuters story here via Blogger IKEA to open first stores in 3 South American countries Marriott International is opening five hotels at retail centers around the United States that are owned by Simon Property Group. Simon has been incorporating hotels into its properties for 15 years, many of which are Marriott-branded, and the REIT plans to increase this activity. Read the GlobeSt story here via Blogger 5 Simon Property retail centers will get new Marriott hotels By Roy Rasmussen When it comes to technology adoption, the construction industry has traditionally lagged behind other major industries. Seven in 10 construction companies spend less than 1 percent of their sales revenue on technology, 60 to 70 percent below the average for other major industries, a 2016 JBKnowledge survey found. But as advancing technology has enabled new construction applications, more construction companies are increasing their tech budget. A 2017 Software Connect survey found that 82 percent of construction companies plan to maintain or increase their technology spending over the next 12 months. Here’s a look at some of the technology trends that cutting-edge construction companies are adopting to improve their efficiency, cut their costs and gain an edge on the competition. via Blogger Three Top Technology Trends Empowering Cutting-Edge Construction Companies |
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