Milpitas, California, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Sierra Monitor Corporation (OTCQB: SRMC), a provider of Industrial Internet of Things (IIoT) solutions that target facility automation and industrial life safety requirements, today announced that Ross DeMont has been appointed as a member of the Company’s board of directors.
Mr. DeMont has been the Director of Research of the Rainin Group, Inc., a family office responsible for the investments of the Kenneth Rainin Foundation, since September 2016. Previously, Mr. DeMont was a Managing Member and Portfolio Manager of Midwood Capital Management, a private investment partnership making concentrated investments in public companies. Before this role Mr. DeMont was an Associate at Igoe Capital Partners, a hybrid public/private equity investment firm with a primary focus on the small and micro-cap sectors. Mr. DeMont also worked at Presidio strategies in Mergers and Acquisitions and JP Morgan with a focus on Corporate Finance and Mergers and Acquisitions. He currently serves on the Board of Directors of Desalitech, a private venture backed company selling into the industrial water treatment industry.
“Adding a sophisticated investor to our board will assist our efforts to unlock sustainable shareholder value,” said Jeff Brown, President and Chief Executive Officer of Sierra Monitor. “Ross brings a wealth of value creation expertise to Sierra Monitor, including specific experience in identifying, evaluating and structuring mergers and acquisitions. We have made tremendous progress in our efforts to build a sustainable, scalable, high-margin business, and we are increasingly confident that we are well-positioned for accelerated growth. Ross will help us to translate our improving financial performance into long-term value for our loyal shareholders.”
The company also announced it has retained Hayden IR, a premier national investor relations consulting firm, to develop and execute strategic investor relations campaign designed to increase awareness and enhance shareholder value.
“As industrial facilities continue to seek technological tools to improve efficiency, protect assets and drive automation, Sierra Monitor is strategically well-positioned as a clear leader in Industrial Internet of Things (IIoT) solutions,” commented Cameron Donahue, Partner of Hayden IR. “The adoption of these solutions is only just beginning, and with gross margins of approximately 60%, a strong balance sheet and proven cash generation supporting a cash dividend, increased demand should drive meaningful returns for shareholders. We are excited to share this compelling opportunity with the investment community.”
Hayden IR will work to raise Sierra Monitor’s visibility within the investment community by strengthening its relationships and increasing awareness with the goal of ultimately enhancing shareholder value. Hayden IR is a highly regarded investor relations consulting firm known for its ability to connect underfollowed and emerging growth companies with sophisticated institutional investors, buy-side and sell-side analysts, retail brokerage firms and accredited individual investors. Leveraging decades of cumulative experience, Hayden IR develops strategies to help clients effectively communicate with the investment community and works to increase their exposure through targeted outreach and transparent positioning. Hayden IR helps public companies deliver the right message to the right audience. Over time, Hayden IR helps its clients navigate up the Wall Street value chain and to help them secure a reasonable valuation by broadening their audience, expanding institutional ownership and ensuring clear, consistent communication with the public.
About Sierra Monitor Corporation
Sierra Monitor Corporation addresses the industrial and commercial facilities management market with Industrial Internet of Things (IIoT) solutions that target facility automation and life safety requirements.
The company’s FieldServer brand of protocol gateways and SMC Cloud target the facility automation segment and are used by OEMs and system integrators to enable local and remote monitoring and control. With more than 200,000 products, supporting over 140 protocols, installed in commercial and industrial facilities, FieldServer is the industry’s leading multi-protocol gateway.
Sierra Monitor’s Sentry IT flame and gas detection solutions address the facilities and life safety segment and are used by safety managers to protect facility personnel and assets. Tens of thousands of Sentry IT branded controllers, sensor modules, and software are installed at facilities such as natural gas vehicle fueling and maintenance stations, wastewater treatment plants, oil and gas refineries and pipelines, parking garages, and underground telephone vaults.
Headquartered in the heart of Silicon Valley in Milpitas, California, Sierra Monitor was founded in 1978 and has been a public company since 1989. By combining its distinguished track record in industrial sensing and automation with IoT technologies such as wireless, cloud connectivity, and data services, Sierra Monitor is at the forefront of the IIoT market expansion.
For more information visit: http://www.sierramonitor.com/
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, including those statements concerning future product plans and releases, market acceptance and adoption of our solutions, macroeconomic trends and market conditions, investment plans, results of operations, market position, and strategic plans and objectives. These statements are not guarantees of future performance and actual results may differ materially from those described in these forward-looking statements as a result of a number of factors. Further information on these risks, uncertainties and assumptions as well as information regarding other factors that could affect the company’s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings we make with the Securities and Exchange Commission from time to time. Forward-looking statements contained in this announcement are made as of this date and will not be updated.