February 7, 2023
PoE Company, Igor, is Sold to Four Investors
Business will continue to be managed by founder Dwight Stewart
A group of investors have stepped forward to purchase Power-over-Ethernet platform company, Igor, Inc. and continue the effort to expand Igor’s PoE smart building technology across various markets. Since its founding by Dwight Stewart in 2013, Iowa-based Igor has caught the attention of PoE-focused building and lighting people, but seemingly supply chain issues in recent years may possibly have caused some challenges requiring an infusion of cash from investors.
In a company statement, Igor shared “The company has made several adjustments during the past couple of years in response to chip shortages and labor challenges. The pandemic and world-wide supply chain challenges hit nearly every industry, including Igor, Inc. Igor Founder, Dwight Stewart states this transition secures the company’s future thanks to the financial commitments of Igor’s new owners.”
Igor explained that four “high net worth investors” have bought the company. All four seem to be in Iowa, where Igor was founded and still operates. The investors are:
Brent Haverkamp: Owner, Haverkamp Properties, Inc.
Sean McMurray: CTO Emeritus at Businessolver
Jim Cownie: Co-Founder and past President, Heritage Communications – once one of the largest Cable TV providers in the U.S.
Paul Hayes: President at JSC Properties, Inc.
“We are pleased with the way Igor has responded to this environment. We are investing for a long-term future with the leading facility data software in the business” said Paul Hayes, Investor.
We asked company founder, Dwight Stewart, if he still owns a stake in the company and he politely declined to answer. The business will continue to be managed by Stewart.