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DealNet Capital Bolsters Management With Two New Key Appointments

DealNet Capital Corp. (CNSX:DLS) has appointed Ashish Kapoor as CFO and Rick Henry as VP of financial services, the company said Thursday.

Kapoor will be responsible for the overall finance & accounting management team and Henry will oversee the company's financial services and consumer financing business.

Henry will develop and implement the corporate processes, policies and documentation to facilitate the company's retail finance initiative.

"We feel that Mr. Kapoor and Mr. Henry will be instrumental in advancing the company's business plans in the key markets we are targeting," said chairman and CEO, Graham Simmonds. "Both individuals make a strong addition to our leadership team and we are very pleased to welcome them both to DealNet Capital."

DealNet, previously called GameCorp, recently transitioned from the gaming industry to heating ventilation and air conditioning (HVAC) financing and services, water heater rentals and business process outsourcing (NYSE:BPO), with the infrastructure of the BPO business underpinning the HVAC delivery platform.

The company is moving forward with the growth plans for OC Communications Group (OCCGI), DealNet's recently acquired BPO subsidiary.

It is also planning to launch One Dealer this quarter, a business designed to provide end-to-end customer management and financing services to the HVAC industry through a network of HVAC dealers.

Through One Dealer, DealNet plans to bring together more than 80,000 small and intermediate-sized dealers in the North American HVAC and water heater rental industry under one umbrella.

One Dealer is expected to help these dealers provide a better customer experience by leveraging fractional call center time through the BPO unit, and at the same time "authorize and encourage them to sell DealNet's finance products and services".

The management appointments announced today will help DealNet expand its initiatives.

Kapoor has more than 12 years of experience in public accounting and investment banking, and was most recently senior VP at Macquarie Capital Markets Canada, responsible for the Canadian telecom, media, entertainment and tech group.

Henry, meanwhile has more than 25 years in equipment and real estate financing, and as the VP and Canadian managing director, has led finance divisions for both Textron Financial and CitiCapital.

The marriage of the BPO call center and the HVAC industry has indeed shown progress, as DealNet opened two new facilities - in Ft. Meyers, Florida and Reno, Nevada - to service large retail customers in the U.S.

Last month, DealNet said that its BPO subsidiary signed a three-year contract to provide contact centre services to a US energy retailer.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.