RS2 Technologies LLC, a provider of access control systems, announced it has been recognized as one of the 2014 Indiana Companies to Watch, an awards program presented by the Indiana Office of Small Business and Entrepreneurship (OSBE), its Indiana Small Business Development Center, the Indiana Economic Development Corporation and endorsed by the Edward Lowe Foundation.
Twenty-seven companies from across Indiana will be honored as outstanding second-stage companies during the seventh annual Indiana Companies to Watch awards program, held on August 20 in Indianapolis. Senior executives from RS2 will represent the company at the event, and will receive the award from Indiana Lieutenant Governor Sue Ellsperman.
Companies to Watch is an awards program that celebrates Indiana’s privately-held second-stage companies, those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival. This year, 165 companies from across Indiana were nominated.
RS2 Managing Partner Doug Robinson stated “We at RS2 are very pleased and honored to have been chosen as one of the 27 awardees in the 2014 Indiana Companies to Watch competition. We want to thank all our employees, our dealer/integrators, the end users of our access control products, and our suppliers and integration partners for helping us achieve this distinction.”
Companies honored represent a variety of industries and have headquarters based in 12 counties throughout the state. From 2010 through 2013, these companies generated $379 million in revenue and added 622 employees, reflecting a 120 percent increase in revenue and 96 percent increase in jobs for the four-year period. That translates into a 40 percent annual revenue growth and 32 percent annual growth in employees. These companies project continued growth in 2014, with a 50 percent revenue increase and 26 percent growth in employees compared to 2013.
Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.