AssetMinder formed to accelerate time-to-value for industrial customers

Posted on 13 May 2024 by The Manufacturer

Following the withdrawal of funding from their Venture Capital backers, Chesterfield-based Industrial Technology business “Konektio” (the trading name of InVMA Limited) unfortunately went into administration at the start of March.

The business, which provides software systems that enable remote insight into the health and energy usage of critical and dispersed industrial assets such as motors and pumps, had a loyal customer base and enviable technology that had been developed over a five-year period.

The two founders of Konektio, Pat Nash and Jan Hemper, with support from members of the management team and external investors, have successfully acquired the assets from the administrators and relaunched the business as AssetMinder (the trading name of AssetMinder (Operations). The industry-experienced team have been able to arrange the business transition without jeopardising service to any of Konektio’s customers and have been able to retain the services of key members of staff.

AssetMinder is now poised under its new ownership to expand its services to industrial
customers and to further enhance the AssetMinder Software-as-a-Service (SaaS) solutions to provide critical functionality and increase customer value to their operations.
Chief Executive Officer Pat Nash said, “After the disappointment of Konektio’s failure, we are excited to have the opportunity to help retain employment in the region and to continue to support our customers. We have exciting plans for the future of the business, where we will aim to increase our value to industrial customer operations through addressing their critical challenges such as sustainability and asset utilisation.”

Allan Findlow, Managing Director of Hayley 247 Engineering Services t/a Drive Management Services, and a customer of AssetMinder Predict and Impact solutions said “We will continue to work and operate with the AssetMinder solutions to help our customers reduce their downtime and energy usage. We have an increased confidence in the new management team at AssetMinder (Operations) and the industry pedigree they bring.”

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