IT Industry veteran Rick Higdon and EAM Resources, Inc. founder Tim Perman have announced the acquisition of EAM Resources by a newly formed IT Consulting company branded Turnpoint Solutions LLC.
EAM was founded in 1999 by mining industry IT and finance executive Tim Perman. EAM has grown into a leading player in the critical asset management IT consulting niche for the mining and transportation industries. EAM counts Newmont Gold, Long Beach Transit Authority, Omnitrans, Buffalo’s NFTA, and TARC as major clients. Established EAM offices in Denver and Perth Australia will become the U.S. and Australasia headquarters for Turnpoint. A southeast regional office has also been opened in Atlanta.
Terms of the acquisition and financing were not made public. Turnpoint has pre-valued capital funding available and will be seeking complementary and accretive acquisitions and partner solution partnerships with ISV’s and other service providers. Rick Higdon has also been named president and CEO.
A former longtime executive of enterprise software provider Mincom Inc., Higdon was most recently president of the Mobility software division of Axiom Consulting that was acquired by SPL in 2005.
Tim Perman has been named EVP Consulting Operations and head of the firm’s mining and transportation practices.
Turnpoint also announced the formation of a utilities industry practice to complement the mining and transportation industry practices acquired from EAM. Utility industry veteran, KP Reddy, who joined Turnpoint after 20 years at Southern Company and Axiom Consulting, has been named a practice manager in Turnpoint’s utility & government team that counts Gainesville Regional Utilities and Atlanta Gas Light as new customers.
Chris Dabic, formerly of EAM Resources Pty Ltd. Australia, has been named general manager of Turnpoint’s Australasia operations. Dabic brings broad experience in implementing enterprise applications in some of the world’s largest organizations and will be charged with scaling the Australian operation.
Higdon concluded, “Tim has built EAM into a great company with a very crisp, customer-biased culture and I’m honored to have the opportunity to work with him and the entire EAM staff and customer community as we move forward as Turnpoint Solutions LLC.”
Turnpoint was advised in the transaction by The McDonnell Group, Inc. whose managing director Don McDonnell was also named to Turnpoint’s board of advisors.