Under New Ownership, Karpilow Safe & Lock Marks 144 years

Jan. 13, 2014

Jan. 11--Karpilow Safe & Lock Co., the security specialist shop that's been a household name in Bridgeport, Conn., since 1870, has changed hands again, and the new owners are staying put.

Jeffrey Silver, of Weston, and Steve Vanwilliams, of Milford, last month acquired Karpilow from Newtown resident Rick Bayuk, who had owned the business for 13 years. The terms were not disclosed.

The new owners, operating under the name Citadel Partners, believe the business, founded 144 years ago as Moulton Karpilow Locksmith at 62 Elm St., has a future, as it embraced technology over the years, moving from simple keys, padlocks and door locks to electronic safeguard systems.

Silver, 58, said he and Vanwilliams, 44, were looking for a well-run service business employing staff with sophisticated skills, as well as a loyal customer base.

The pair understood the potential that a security business offers and were impressed by how Bayuk had developed the Karpilow Safe & Lock into a destination for companies and residential property owners seeking modern technology and good service.

"What's really important is that this company has an extraordinary name," said Silver. "We provide a service, and we must be timely and efficient. It's hard to get good service. We're really committed to organic growth."

New markets

Bayuk, who still operates Rackliffe Lock & Safe, a mobile service that serves customers mostly along the eastern Connecticut shoreline, will remain with the business for the foreseeable future as it enhances its sophisticated biometrics security offerings and technology that allows people to use their hand-held devices to control locks at their homes.

The security advancements are "creating new markets and opportunities that we are committed to stay ahead of," said Silver. "We're committed to investing in the business. We have a very good location in Bridgeport."

There are no plans to change the name of the business, which has always been in Bridgeport and moved from 62 Elm St., to 92 Elm St. about a century ago. Bill Greenberg, who purchased the business from the founding family in 1956, later moved it to 2412 Main St., and Bayuk, realizing the need for more space, doubled its size to 2,200 square feet when he relocated to 4490 Main St., in 2008.

Bayuk said that after rejecting several suitors, he welcomed Silver and Vanwilliams, a Milford resident.

"I've been looking for the right fit -- someone who shares my vision for the company and what it should be and how important the business is to the community. From our first meeting, I had a vibe that it was right. It's important. They are keeping the store," said Bayuk.

Call Karpilow

He recalled having a meal several years ago with his father at a local restaurant and being served by a waitress who had tears in her eyes. She had seen Bayuk get out of his company truck and told him that it brought back memories of how her grandfather would tell her to call Karpilow whenever she had a problem with a lock.

The business has always been a standard within the Bridgeport corporate community, said Paul Timpanelli, president and CEO of the Bridgeport Regional Business Council.

"They have a fabulous reputation. Their standing in the community is terrific. This is a good-news story. Many of those long-time niche businesses are a thing of the past because of the big-box retailers," he said.

Bayuk is training the new owners on the inner workings of the business, which sees about 80 percent of its business from corporate clients. The remaining 20 percent is derived from residential customers. Annual revenue is typically in the $650,000 to $750,000 range, he said.

Bayuk, a locksmith for 28 years, has shepherded the business and its five employees into the 21st century, ensuring that they are adept at the most modern security technology.

Rudimentary electronic security started to take hold in the 1970s, but it wasn't until the early 2000s, with high security keys, electric locks and access controls, that it started to take off, he said.

"Now we have locks controlled by smart-phone apps. That's a technology we'll be focusing on more for the house," Bayuk said, adding that the business continues to sell safes, as it did in the 19th century, but with 21st century technology.

'The Italian Job'

He still cringes when he sees all the indiscretions that are taken with real security technology in a movie where the characters devise elaborate schemes to defeat electronic security measures to grab a jewel or break into a safe.

"I always wonder who their technical adviser is," he said. "The best one I've seen is the 'Italian Job.' That's pretty realistic."

Bayuk is a member of ALOA Security Professionals Association, formerly the Associated Locksmiths of America, and Tom Demont, president of the ALOA board of directors, knows some of the history of Karpilow Safe & Lock.

Commenting that he doesn't know of any ALOA member with a longer history, he attributed the longevity of the business to it being passed down to subsequent family generations until it was bought by Greenberg.

"It was handed down from father to son. That's how most locksmith businesses continue," said Demont, owner of Technical Services in Pittsburgh. "And like all small businesses, it's the perseverance of the individuals who keep it going."

Keeping pace with technology is essential for a lock company, but it is a challenge for small businesses where employees and management are wrapped up in daily responsibilities, according to Demont, who said that the ALOA conducts classes on technology advances for its members.

"You tend to get wrapped up working in your business, rather than working on your business," he said. "There's a lot more schooling than there ever has been."

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