Redwire creates a resi division Doug Smith said resi account acquisition possible in 2016
By Spencer Ives
Updated Wed January 13, 2016
TALLAHASSEE, Fla.—Redwire, a commercially focused security company based here, is getting into residential security.
It took the first step this month, launching a residential sub-division in its sales department
“We're a commercial shop that's trying not to ignore the calling of high-need or high-end residential [business] that calls on us,” Redwire president Doug Smith told Security Systems News. “Historically, have not chased that business, but we don't run from it.”
Smith said Redwire is 60 percent commercial, 31 percent governmental, and 9 percent residential. He said Redwire's RMR could rise by a couple percentage points in 2016 as the result of its increased on residential.
That increase could be much higher if Redwire acquires residential accounts, something it is considering if the right opportunity comes along. “It would have to be a pretty special account [base] that would align closely with the Redwire services and values,” Smith said.
Some residential companies have pressure to sell because of the 2G sunset and potentially high volumes of customers that would need radio conversions, according to Smith, and Redwire can handle those conversions.
Redwire has 21 sales people, previously all focused on commercial sales. Three of those positions will now focus exclusively on residential sales. Smith said Redwire “will add more as the company sees fit.
Redwire was founded five years ago. It has 80 employees and about $535,000 in RMR. The company moved into a new 20,000 square-foot headquarters in November.
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