West Michigan produces 25 of 'fastest-growing' private companies in US
A sports bra maker in the area has been named the 93rd "fastest-growing" private company in the U.S. and — again — the first among Michigan companies named to the 2019 “Inc. 5000” ranking.
Inc. magazine annually ranks the fastest-growing private companies headquartered in the U.S., based on revenue growth over the previous three years.
Hudsonville-based Shefit, founded by Sara Moylan and helmed by she and her husband, CEO Bob Moylan, earned the No. 93 spot this year, based on a growth rate of 3,400% and revenue of $6.6 million.
Other highly ranked companies this year include Grand Rapids-based Ally Logistics at No. 120, Grand Rapids-based Jonas Paul Eyewear at No. 166 and Allegan-based Advanced Architectural Products at No. 418.
This year’s ranking includes 82 Michigan companies, down from 93 in 2018 and 102 in 2017.
West Michigan’s share of companies in the ranking is at 25 this year, compared to 19 in 2018 and 29 in 2017.
The 5,000 companies in the ranking represent 49 states, Puerto Rico and the District of Columbia. Combined, they generated $237.7 billion in revenue last year, with average 2018 revenue of $47.5 million and a median three-year growth rate of 157.4 percent.
The ranking is online.
West Michigan companies in the 2019 “Inc. 5000” ranking
93. Shefit, Hudsonville, 3,400% growth, $6.6M revenue, retail
120. Ally Logistics, Grand Rapids, 2,872% growth, $25.8M revenue, logistics and transportation
166. Jonas Paul Eyewear, Grand Rapids, 2,340% growth, $3M revenue, consumer products and services
418. Advanced Architectural Products, Allegan, 1,095% growth, $15.8M revenue, construction
541. Aldevra, Portage, 813% growth, $8.1M revenue, government services
804. Fifth Wheel Freight, Kentwood, 533% growth, $35.6M revenue, logistics and transportation
904. MessageWrap, Grand Rapids, 470% growth, $2.8M revenue, advertising and marketing
1088. Towel Tracker, Grand Rapids, 386% growth, $2.5M revenue, business products and services
1432. FormulaFolio Investments, Grand Rapids, 288% growth, $44.2M revenue, financial services
1633. GFB: The Gluten Free Bar, Grand Rapids, 252% growth, $9.1M revenue, food and beverage
1733. Reliable Relamping, Saranac, 235% growth, $36.4M revenue, business products and services
1748. Spice Jungle, Rockford, 232% growth, $8.9M revenue, food and beverage
2331. Grand River Aseptic Manufacturing, Grand Rapids, 173% growth, $27.4M revenue, health
3458. Hungerford Technologies, Grand Rapids, 102% growth, $3.3M revenue, IT management
3615. Worksighted, Holland, 97% growth, $15.2M revenue, IT management
3659. HR Collaborative, Grand Rapids, 95% growth, $2.2M revenue, human resources
3735. Service Express, Grand Rapids, 91% growth, $113.4M revenue, IT management
3876. Global Tee, Grand Rapids, 86% growth, $3.7M revenue, retail
4142. Kent Power, Rockford, 77% growth, $102.9M revenue, construction
4177. Creative Studio Promotions, 75% growth, $3.6M revenue, advertising and marketing
4373. Service Professor, Grand Rapids, 69% growth, $8.5M revenue, consumer products and services
4530. ZZPerformance, Wyoming, 65% growth, $9.8M revenue, consumer products and services
4737. Applied Imaging, Grand Rapids, 59% growth, $91.8M revenue, business products and services
4841. BizStream, Allendale, 57% growth, $4.4M revenue, software
4948. USA Financial, Ada, 54% growth, $54.9M revenue, financial services