Reddi Industries is starting 2017 in much the same way it has operated for the past few years, and that’s with an acquisition.
The company has purchased the 65-year-old Overhead Door and its sister company, Aviation & Specialty Doors.
“We had a great opportunity to team up,” says former Overhead Door owner Mike Sweeney.
He’s owned the businesses for 28 years and says he was concerned about continuity.
“This was a perfect fit for our employees … and it was really great for us.”
Reddi Industries is a commercial and residential service company that does plumbing, sewer and drain, heating and air, lawn care, fencing and a lot of industrial services, such as restoration work following water damage. It also has a wastewater treatment plant.
“And now we do garage doors,” says Reddi’s Zack Steven.
He says Reddi has been branching out in new ways, particularly with companies that baby boomers have operated and are ready to sell.
“Not everybody wants to own a service company,” Steven says. “It’s not easy.”
Overhead Door has 35 employees, and Aviation & Specialty Doors has four.
Steven says he’ll combine both companies since there’s a lot of crossover.
“It makes sense,” he says.
Overhead Door sells and installs garage doors, dock equipment and awnings, and Aviation & Specialty Doors builds hangars.
Other than some changes with dispatching and accounting, Steven says, “Overall, I think it will operate as is.”
The businesses will operate as Overhead Door.
“It’s been around too long for us to think about changing the name,” Steven says.
For now, the company will remain at 333 S. Laura. Eventually, though, Steven says, “It’ll be nice to get everybody under one roof.”
Reddi bought its first door company, Bob’s Door, a year ago.
“It was just a random deal that came to our plate,” Steven says.
Before that, Reddi purchased Sweeney’s Aero Fence, which is what led to the Overhead Door deal.
Steven says the door business is different from other Reddi specialties, but it’s also a natural fit.
“Although it’s not the same services we provide now, it really operates the same,” he says. “It’s a service-based business, which is what we do.”
A significant difference, though, is that Overhead Door is involved with a lot of new construction.
“That’ll be the learning curve for us,” Steven says.
Steve Rothwell, a partner in Aero Fence deal, also is a partner in the Overhead Door deal.
Chad Blackman, the president of Overhead Door, also is a partner and is remaining at the business.
So is Sweeney.
“This isn’t a retirement sale,” Sweeney says.
He says he wants to remain “and do what I do.”
Steven says that’s ideal for the company.
“We’re going to make him stay as long as we can.”