Tony Zentil spent 17 years managing Oakley’s accessories division—helping to grow the category from $15 million to $100 million. The mechanical engineer left in 2015 to tinker with his own design.
The founder behind Laguna Beach-based Fix Manufacturing created a line of compact tools for skis and snowboards, skateboards and mountain bikes. The company plans to introduce a portable tool for surfboards and a second bike tool this summer.
“We’re not trying to outfit someone’s garage or a mechanic,” Zentil said. “If your chain breaks, you need to be carrying a tool. If you’re going snowboarding and your bindings come loose, you have to have a means to tighten that. So for us, it’s all about something compact.”
The tools are slightly bigger than a matchbox and fit easily into a pocket because of the flat design. Each is equipped with a bottle opener and the essentials, such as spoke wrenches, hex bits for its bike tool, an emergency file and Phillips-head screwdriver for its ski and snowboard tool.
They’re also made to slide into Fix’ custom patented belt buckle, which prevents the tools from accidentally falling out. Fix also launched a strap-on buckle that attaches to a backpack strap or waist pack.
“It’s not just about the tool, but how you carry it, and this allows us to get into soft goods and accessories,” Zentil said.
He launched the business in 2016 and said the tool category is in need of a refresh, citing the trend of fashion socks ushered in by San Clemente-based brand Stance as an example. He declined to share sales figures but said the business could hit sales of $10 million or more.
Zentil said the company is focusing on distribution and product development. It received positive feedback from REI, which expressed interest in carrying the brand once it grows its product assortment.
Fix is sold in 11 countries and carried at sporting goods shops and specialty stores, including Zumiez Inc. Prices range from $15 for a surf tool keychain to $50 for a belt.
— Subrina Hudson
Gift Cards
Wonder Technologies Inc., a fintech firm in San Juan Capistrano that supplies rebate solutions to the travel, hospitality and retail industries, added Jason Wolfe to its board of directors.
Wolfe founded the first online coupon website, MyCoupons.com, in 1995, and GiftCards.com, which was purchased by Blackhawk Network in 2016 for $120 million.
“He has a great reputation in this industry,” said Gerry Goldstein, founder of Wonder Technologies in 2013.
Goldstein said its platform is used by airlines, specialty retailers, restaurants and hotels to motivate consumer behavior and to compensate for customer-service problems. Its website said customers can instantly issue and redeem digital gifts without the hassle of paper, plastic and point-of-sale updates.
The company has raised $6.5 million in venture capital, including from Mosaik Partners of San Francisco, K5 Ventures in Irvine and Tech Coast Angels. Goldstein said the firm doesn’t plan to raise more capital in the next year. With the addition of Wolfe, the board of directors has four members.
The company employs 17 and may add about five more, including engineers, sales and marketing experts.
Wolfe operates Wolfe LLC, a technology incubator with subsidiaries that include GiftYa, GiftCardGranny.com and MyCoupons.com. The company has more than 40 employees and is based in Pittsburgh, where Wolfe serves as vice chairman of the board for the Pittsburgh Technology Council.
— Peter J. Brennan
