Editor’s Note: Chief Executive is kicking off a new annual tradition this year by celebrating every sizable (over $100 million in annual revenues) standalone company turning 100 in 2023. Check out the rest of this year’s class for tips, insights and, above all else, the inspiration you need to keep going….and going.
SOFTWARE AND TECHNOLOGY
HQ: Hunt Valley, Maryland
Revenues: $100 million
Some companies make it to a century by cleaving tightly to their origins and founding principles; others do it by constantly evolving to meet market needs.
The two-entity company that includes Dunbar Security Solutions and Dunbar Security Products began with a single armored truck offering secure transfer of currency and other valuables (under the name Mercer & Dunbar); it looks quite different today. Over the decades, leaders in the family business have added and subtracted multiple businesses including the launch of Federal Armored Express in Baltimore in 1956, the addition of a manned guarding service brand in 1960 and a security systems division in 1983.
Perhaps the biggest change came in 2018 when CEO Kevin Dunbar, seeing that the use of physical currency was rapidly declining, made the decision to exit the armored industry and sell the company’s fleet to Brinks, shifting the focus to offering advanced domestic security solutions for individual customers and providing companies with holistic protection from physical, cyber and logistical threats.
Through the various pivots, the multigeneration, family-owned company has maintained a focus on talent and on cultivating a strong team capable of delivering quality service, as well as an eye on long-term growth and relevance, rather than quarterly numbers. “While our family of companies and offerings have evolved throughout our history,” says CEO Dunbar, “we have remained dedicated to providing our customers with a customized, high-quality experience to ensure they receive the best products and services to protect their people, properties and cash.”