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SARASOTA, Fla. - Helios Technologies, Inc. (NYSE: NYSE:HLIO), a $1.35 billion market cap company known for its highly engineered motion control and electronic controls technology, has partnered with Alto-Shaam to advance innovation in the commercial kitchen industry. According to InvestingPro data, Helios maintains strong fundamentals with a current ratio of 3.03, indicating robust liquidity, and has maintained dividend payments for 29 consecutive years. This collaboration focuses on enhancing the ChefLinc™ remote oven management system through i3 Product Development’s Cygnus Reach software platform.
The partnership has resulted in a rebuilt and more robust infrastructure for ChefLinc™, offering improved scalability, security, and data-driven capabilities. Kevin Bernier, Director of Product Management for IoT at Alto-Shaam, acknowledged the benefits of the collaboration, stating that the integration of Cygnus Reach has brought significant rewards to the company’s service capabilities.
Sean Bagan, President, CEO, and CFO of Helios Technologies, emphasized the company’s commitment to delivering connected solutions that transform industries. The partnership with Alto-Shaam is highlighted as an example of how Helios aims to optimize performance and create smarter, more efficient kitchens through technology.
With the integration of Cygnus Reach, Alto-Shaam has been able to provide real-time insights into oven performance, allowing service teams to diagnose issues remotely. This has led to increased operational efficiency and a quick return on investment, as noted by Mike Jones, VP of Quality and Service at Alto-Shaam. The capability to monitor equipment in real-time has been praised as a "slam dunk" for the company, significantly improving support and reducing costs associated with service calls and warranty expenses.
This initiative underscores Helios Technologies’ dedication to delivering solutions that enhance performance and reliability across various industries, including commercial foodservice. By leveraging i3’s expertise, Helios continues to drive technological advancements that enable smarter, data-driven business decisions for its customers. With annual revenue of $819.8 million and trading near its 52-week low, InvestingPro analysis suggests the stock is slightly undervalued, offering potential opportunities for investors. Discover comprehensive insights and 6 additional ProTips about Helios Technologies in the exclusive Pro Research Report, available to InvestingPro subscribers.
The information for this report is based on a press release statement.
In other recent news, Helios Technologies has announced the appointment of Sean P. Bagan as the new President and Chief Executive Officer. Bagan, who has been serving as the Interim President, CEO, and Chief Financial Officer since July 2024, will continue his role as CFO until a replacement is found. The company’s Board of Directors, after a thorough search involving internal and external candidates, selected Bagan for the position. Philippe Lemaitre will remain as the Non-Executive Chairman of the Board. Bagan’s previous experience includes 23 years at Polaris (NYSE:PII) Inc., where he gained expertise in international business and strategic financial operations. His educational credentials include a B.A. in Accounting and Management, a General Management Certificate from Cambridge University, and a CPA (Inactive) Certificate from Minnesota. Helios Technologies has a strong presence in over 90 countries and aims to lead niche markets through innovative product development and acquisitions. The company has also maintained a consistent history of paying quarterly cash dividends since going public in 1997.
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