DH Pace Publishes 2018 Annual Review
Each year, the Company produces an Annual Report summarizing the events and accomplishments of the previous year. The report includes a wealth of information, including:
- Highlights from the past year such as sales growth, hiring and new office locations
- The expanding range of products and services offered by the Company
- Case studies demonstrating products and services in real-world applications
- Community service projects
"We are pleased to report DH Pace Company sales increased in 2018 by $118 million, or 27 percent, totaling $548 million. In 2018, we continued our strong growth and ended the year with higher sold backlogs.
Highlights of the year include:
In 2018, the Company created an additional 614 net jobs, ending the year with a total of 2,483 employees. Since the end of 2015, the Company has created more than 1,000 net new jobs.
In 2018, we purchased 360 new vehicles to upgrade and expand our fleet to more than 1,300 vehicles. Our ERP software upgrade project is on track with phased implementation planned over the next several years. This new platform will enhance our mobility, user interface, reporting and e-commerce capabilities.
In 2018, DH Pace invested in a record number of facility improvements, including major expansion projects started in Atlanta, Georgia; Olathe, Kansas; and Denver, Colorado.
In 2018, we completed five acquisitions. The first was Door Control Services (DCS), which added a large team of great employees serving the entire state of Texas from six offices: Ben Wheeler, Houston, Austin, San Antonio, Lubbock and El Paso. DCS also has a strong presence in Arkansas and Louisiana. The other acquisitions included garage door businesses in Des Moines, Iowa; Denver, Colorado; and St. Joseph, Missouri, and an entry door business in Topeka, Kansas.
In 2018, we also entered the four new geographic markets of Milwaukee, Wisconsin; Tulsa, Oklahoma; Tampa, Florida; and St. Joseph, Missouri.
Today, we operate in 45 markets across the continental United States with additional locations planned for the future. Our National Accounts business, which is active in all 50 states, continues to grow sales and serve customers from coast-to-coast while also expanding the range of products and services offered.
Now, we are in the 10th year of the economic recovery. While business activity remains strong across our portfolio, and may remain so for a period of time, we believe an economic slowdown is within our plannable time horizon. By staying focused on our business plan, we are confident we can operate successfully through the next economic downturn whenever it might occur.
We are proud to be a privately-held, family-owned business, committed to serving our customers, working hard to be a great place to work and actively supporting our local communities. We are very thankful for the blessings we have received and remain optimistic that the best days for our Company and our country lie ahead of us."
Rex E. Newcomer, Chief Executive Officer
You can view all our Annual Reports from previous years here.