On the Rise

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What does it take to grow rapidly? Well, if you start small, even modest gains can show up as big percentage increases. The trick is to keep that rate of growth increasing consistently over a period of years.

That’s one of the feats that has been pulled off by the companies on the Business Journal’s list of fastest growing private companies. Of the 100 businesses that made our list this year, 47 are making their debut. Viewed another way, more than half have shown accelerated revenue growth for several years. Together, the businesses on our list this year generated $6.2 billion in 2015 revenue (thank you, Beachbody, and your $1.2 billion in sales) and employ more than 28,000 people. (See page 30.)

Now, there are many ways to grow – some of the businesses on our list have boosted revenue by rolling up other companies, others have advanced by feeding off existing business and expanding their base.

Regardless of how they’ve grown, what’s most impressive about this list is the diversity of industries represented.

Tech is well-represented, as it should be. That still-young cohort of companies is drawing talent and investment to the region. Even better, the tech firms that made it on our list are also generating real cash flow.

But along with tech there are some not-so-usual suspects. There is ample representation from restaurant chains, alternative energy companies (two solar companies and an energy-efficiency installation firm are among the top 10), and from manufacturers.

This year’s fastest growing company, Berkley, makes the packaging that holds goods that sit on the shelves in Costco and Wal-Mart stores. It’s about as far from the sexy tech world as you can get, and Berkley’s nearly 9,500 percent growth over the last three years is a testament to the breadth of the local economy.

From packaging firms to vitamin makers to vaping businesses, small- and middle-market companies continue to drive economic growth in the region.

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