Lock and Security - Long Established
Sells and installs commercial building security products. Products include mechanical, electronic, and electrified locks, mechanical and electrified panic bars, mechanical door closers, electrified door operators for ADA compliance, various types of door hinges, various types of protective door hardware, hard-wired and wireless cloud-based and standalone electronic access control systems and hardware , standard and high security restricted commercial keys, master key systems for commercial buildings, schools, and municipalities, and doors for office buildings, storefront businesses, and industrial warehouses, consisting of hollow metal, glass-aluminum, and wood. Cores fire rated doors to install access control, relabel the door after coring, and maintain fire and life safety code.

The company is required to hold a California LCO license, a C-28 lock and security contractor’s license for work over $500.00, a C-7 license for low-voltage electrical work, a C-10 license for high-voltage electrical work, and a California Department of Industrial Relations license for municipal work. The company is required to be Intertek certified to modify Warnok-Hersey fire-rated doors and relabel after modification to meet building code requirements. The contractor licensing also requires bond renewal. Clients also require specific insurance coverage including liability up to $5M, commercial vehicle up to $1M, - and worker's compensation.

The main clients and client types that contribute to consistent revenue are property management companies, building engineering companies, commercial property development and construction companies, and commercial property owners. In addition, other client types include schools, churches, federal government, biotech, restaurants, property maintenance companies, automotive dealerships, community centers, and retail. Each client type has doors, door hardware, locking hardware, keys, master key systems, and access control systems that need attention. and property owners. -

The predominant trends in the lock and security market are the reduction of mechanical keys for various types of clients such as Biotech in favor of access control, ADA compliance with door operators, and ease of use overall when it comes to software. Other clients, such as HOAs, sometimes prefer restricted high security mechanical keys versus an - electronic solution. Electronically, everything is going to cloud-based software and requires a subscription on a monthly or annual basis - which provides recurring revenue. Reducing the mechanical keys provides much more control over security and ease of use when employee or tenant turnover occurs.

The company maintains certain items in stock that are routinely needed or requested by customers, specifically key blanks, key cylinders, locks, and certain types of door closers, standard mechanical commercial door hinges, electronic safe locks, and various smaller parts for door locks, panic bars, and doors. Other types of items that are procured on an as needed basis include panic bars, ADA door operators, specific restricted key cylinders, electrified locks, electrified hinges, continuous hinges, weldable gate boxes, access control system products including power supplies, relays, and various types of required wire.. We know through experience that these types of items will continue to be needed. Inventory can run from ~ $20,000-$75,000 depending on time of year and customer mix.

The company has established strategic industry relationships with suppliers including Wesco/Anixter, Intermountain Lock and Security Supply, Access Hardware Supply, U.S. Security Supply, Thompson Building Materials, and Foundation Building Materials. The company has also established strategic industry relationships with Allegion, General Lock, Prodatakey, ButterflyMX, and Alarm Lock.