Fenco

What Fenco does

Fenco Solutions, operating through its Fenco Bank Equipment division, is a U.S.-based industrial manufacturer founded in 1957 (originally as United Hospital Supply Corp.) that designs and fabricates physical bank equipment and furniture. The company produces two primary steel construction lines: the Goldline Series (16-18 gauge fully welded steel) for premium teller pedestals, lateral files, hanging drawer units, and cash handling units; and the Silverline Series (16-20 gauge spot welded steel) as a value-tier alternative. Its product portfolio spans undercounter steel, vault interiors (vault buses, cash trays, vault and safe interiors with 18-gauge double-wall construction), millwork (modular Teller Pods, motorized adjustable-height ADA-compliant Pod Z, traditional teller lines, check desks), depositories, germ shields, and lock/key storage solutions. Adjacent verticals include retail pharmacy (narcotics lockers), laboratory furniture, cannabis secure storage, and quick-service restaurant equipment.

Fenco generates revenue primarily through quote-based hardware sales distributed via a nationwide dealer network plus direct manufacturer sales, with secondary revenue from in-house design and consultation services including CAD. Pricing is quote-driven with no public list prices; expedited manufacturing (3-5 week lead time) carries 10-20% premiums on top of the standard 6-8 week production cycle, which the company markets as the fastest in the industry versus a competitor benchmark of 16-24 weeks. The customer base is concentrated in U.S. banks and credit unions, including Wells Fargo, Chase, Bank of America, JP Morgan, Citibank, US Bancorp, PNC, TD Bank, Truist, Capital One, Navy Federal Credit Union, and numerous large federal credit unions. Operations run from corporate headquarters in Burlington and manufacturing facilities in New Jersey and Kentucky (multiple plants). The company is privately held with 51-100 employees, led by CEO Pieter 'Pete' Ras (joined January 2023), and has no disclosed external investors or public listing.

Name

Fenco

Legal name

Fenco Solutions

Website

https://fencobankequipment.com

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

51–100 employees

Short description

Fenco Solutions is a U.S. industrial manufacturer, founded 1957, that fabricates steel bank equipment (teller pedestals, vault interiors, millwork, depositories) under Goldline and Silverline lines for U.S. banks, credit unions, and emerging pharmacy/retail verticals, distributed through a dealer network and direct sales.

Ownership category

akta.pro rank

Headquarters

HQ city

Burlington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Bank Equipment Sales: Sale of physical bank equipment including undercounter steel teller pedestals, vault interiors, millwork, depositories, germ shields, and lock/key storage solutions. Products are sold through dealer network and direct manufacturer communication.
2. Design and Consultation Services: Dedicated team for in-house design and consultation services for custom solutions, including CAD design and project planning.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Fenco manufactures and sells American-made steel bank equipment and lab products, including Goldline and Silverline undercounter teller pedestals, vault and safe interiors, millwork teller pods and traditional teller lines, depositories, germ shields, lock and key storage solutions, and retail pharmacy storage. The company sells direct to financial institutions and through a nationwide dealer network, providing in-house design, CAD consultation, and project management with quoted pricing and expedited lead-time options.

Product overview

Fenco Bank Equipment is a manufacturer of bank equipment and furniture offering a comprehensive portfolio of physical products under two main product lines: Goldline (premium, fully welded construction with 16-18 gauge steel) and Silverline (value-oriented, spot welded construction with 16-20 gauge steel). The product portfolio centers on Undercounter Steel products including teller pedestals, lateral files, and hanging drawer units; Vault Interiors encompassing vault buses, cash trays, and vault and safe interior units; Millwork products including Teller Pods, Adjustable Height Teller Pods, Traditional Teller Lines, and Check & Writing Desks; along with Depositories, Form Holders, Germ Shields, Lock Offerings, and Retail Pharmacy solutions. The company provides end-to-end support from design through installation, and their products are used by major financial institutions nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Goldline Series Undercounter Steel Premium line of American-made bank equipment featuring all 16-18 gauge steel and fully welded construction, including teller pedestals, storage units, filing cabinets, and cash handling units for banking and credit-union branches.
• Silverline Series Undercounter Steel Value-oriented line offering 16-20 gauge steel with spot welded construction, providing reliable storage and filing solutions at a lower price point for branch and credit-union installations.
• Teller Units (Goldline 200s Series) Versatile, secure, customizable teller pedestals designed for efficient and secure banking operations, accommodating cash handling units, storage units, and filing cabinets.
• Lateral Files Steel filing cabinets featuring gang-lock for all drawers providing anti-tip feature, with filing bars for legal and letter files and options for different widths and heights.
• Hanging Drawer Units Suspended teller cabinets designed for compact spaces offering excellent support to teller stations, supporting standard cash trays with various configurations including forms holders, cash drawers, and pencil drawers.
• Vault Buses Cash transfer buses designed for secure transfer of valuables to and from point-of-sale and vault locations, available in multiple configurations with varying compartment counts.
• Cash Trays Versatile accessories for teller furniture including steel and polyurethane options, providing cash organization with various compartment configurations for bills and coins.
• Vault & Safe Interior (VSI) Secure storage units for cash, coin, bulk and loose cash storage, and miscellaneous items featuring 18-gauge double-wall welded construction with 1/8 inch steel plate locking doors for enhanced security.
• Teller Pods Modular teller stations incorporating undercounter steel pedestals, customizable designs available in multiple configurations (Pod A through Pod O), TCR-compatible with ADA compliance options.
• Adjustable Height Teller Pods (Pod Z) Motorized workbench pods that convert from stand-up to ADA-compliant heights at the push of a button, serving as both CSR desk and teller station with programmable settings.
• Traditional Teller Lines Customizable teller counters crafted since 1975 with various finishes including Wilsonart Plastic Laminate and Corian Solid Surface, featuring modular shipping for easy installation.
• Check & Writing Desks Versatile desks for branch or store lobbies available in free-standing or wall-mounted options, customizable with accessories like plexiglass form holders and built-in waste receptacles.
• Depository Steel cased depositories for secure cash, coin, and deposit storage in lobby areas and behind teller lines with dual control access requiring two people to access compartments.
• Form Holders (P-100 Drive-Up) Stainless steel drive-up forms dispenser with three-compartment design and clear plexiglass flaps for efficient form dispensing in drive-up lanes.
• Germ Shield Clear polycarbonate germ shields (1/4 inch thick) providing protection for teller stations with pass-thru slots, available in standard and custom sizes.
• Lock Offerings Comprehensive range of key-lock and combination lock options including mechanical and electronic models from brands like DormaKaba, LaGard, S&G, and Tecnosicurezza for bank and credit-union security applications.
• P-99 Wall Mounted Key Locker Secure wall-mounted key storage locker constructed from 16 and 20 gauge fully welded steel with 11 gauge steel plate door, featuring capacity for 86 key/label hooks.
• Retail Pharmacy Solutions Durable, customizable storage solutions for retail and hospital pharmacies including narcotics lockers, undercounter steel, wall shelving units, and free-standing shelving storage units.
• Narcotics Lockers Secure storage units for controlled substances in pharmacy environments featuring 3-point bolt work, key locking L-handle, and electronic combination locks.

Quantifiable outcome

• Lead time reduction from 16-24 weeks (competitors) to 6-8 weeks
• +2 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Others

• Midmark Corporation: Healthcare and institutional furniture/equipment maker including cabinetry and storage. Comparable as a peer in custom casework and secure storage for healthcare-adjacent customers like retail pharmacy, where Fenco has expanded.
• Haworth: Large office and architectural furniture company with custom casework capabilities. Adjacent comparability with Fenco's millwork and branch design offerings for financial institutions.

Emerging players

• Kewaunee Scientific: Manufacturer of laboratory and technical furniture with secure storage options. Comparable to Fenco's lab products division, sharing custom metal casework and modular design capabilities.

Broad incumbents

• Diebold Nixdorf: Large incumbent supplying ATMs, branch security hardware and bank equipment globally. Overlaps with Fenco in bank vault and branch equipment but operates at much larger scale and broader portfolio scale.
• Steelcase: Major contract office and institutional furniture manufacturer. Comparable to Fenco's millwork and teller pod/traditional teller line categories at the institutional branch fit-out level, though Steelcase does not specialize in vault/teller security.
• Gunnebo Group: Global Swedish security company producing cash handling, safes, vaults and entrance security for banks and retail. Comparable to Fenco in vault and safe interior products, with international reach Fenco lacks.

Direct peers

• FireKing International: Manufacturer of fire-resistant safes, file cabinets, narcotics lockers and bank security storage. Direct overlap with Fenco's narcotics lockers, vault interiors and cash-handling product lines for financial and pharmacy customers.
• American Locker: Specialty maker of secured key storage and asset lockers. Directly comparable to Fenco's P-99 wall-mounted key locker and lock/key storage offerings for banks and secure facilities.
• Sagus International: Specialty bank equipment manufacturer offering teller furniture, cash handling and safe solutions. Closely comparable to Fenco's undercounter steel and teller station products for the same bank and credit union end markets.
• Hamilton Safe Products: Direct competitor manufacturing bank safes, vault doors and under-counter steel. Operates in the same teller and vault interior vertical as Fenco with a comparable made-in-USA value proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fenco-bank-equipment

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fenco