13 Maine businesses make Inc. magazine’s list of fastest-growing private companies

By Whit Richardson, BDN Staff
Posted Aug. 20, 2013, at 2:37 p.m.

Thirteen Maine companies have earned a spot on Inc. magazine’s new list of the country’s 5,000 fastest growing private companies. The business magazine released the 2013 list on Tuesday.

Companies were ranked based on their percentage of growth in revenue from 2009 to 2012. To be eligible for the list, companies were required to have 2009 revenue of at least $100,000 and 2012 revenue of at least $2 million. Only privately held, independent, for-profit companies were considered.

Vets First Choice, which provides online pharmacy services for veterinary practices, topped the group of Maine companies that made the list. The Portland-based company placed 25th with a 2012 revenue of $14.6 million, which represents three-year growth of 8,585 percent, according to Inc. Vets First Choice was founded in 2007 and had 74 employees as of Dec. 31, 2012. It debuted on the Inc. 5,000 list last year in the 30th spot.

“We attribute our accelerated growth to a strong collaboration between veterinary practices, pharmaceutical manufacturers and our team,” Benjamin Shaw, Vets First Choice’s CEO, said in a statement.

U.S. Sen. Angus King congratulated the company on its success.

“Vets First Choice is a great example of a 21st century business — they are creative, entrepreneurial, growing and could be located anywhere,” King said in a statement. “I’m delighted that Maine is the chosen home to such a successful and emerging business.”

Here are the other Maine companies that made the list, ranked based on their placement on the list:

No. 33 — Provider Power, which is a competitive electricity provider in New Hampshire and Maine. Mainers know the company, which is based in Auburn, as Electricity Maine. Provider Power had 2012 revenue of $56.8 million, which represented 7,224 percent growth in revenue from 2009. The company was founded in 2009 and employed 50 people as of Dec. 31, 2012. This is Provider Power’s first time appearing on the list.

No. 104 — CashStar, a provider of digital gift cards based in Portland, had 2012 revenue of $9.7 million, which represented 3,414 percent growth from its 2009 revenue. The company was founded in 2008 and employed 96 people as of Dec. 31, 2012. This is CashStar’s first appearance on the list.

No. 1,051 — Health Affiliates Maine, based in Auburn, provides statewide outpatient therapy and case management services for those with mental health and substance abuse issues. It had 2012 revenue of $11.4 million, which represented 405 percent growth from its 2009 revenue. The company was founded in 2009 and employed 230 people as of Dec. 31, 2012. This is Health Care Affiliates’ first time on the list.

No. 1,348 — Tilson Technology, an IT and technology services provider based in Portland, had 2012 revenue of $7.1 million, which represented 299 percent growth from its 2009 revenue. The company was founded in 1995 and employed 45 people as of Dec. 31, 2012. This is Tilson Technology’s third time appearing on the list. It placed 901st in 2012 and at 1,144 in 2011.

No. 1,469 — Argo Marketing Group, a Lewiston-based provider of telemarketing and social media services, had 2012 revenue of $4.1 million, which represented 272 percent growth from its 2009 revenue. The company was founded in 2003 and employed 180 people as of Dec. 31, 2012. This is Argo’s first time on the list.

No. 1,664 — KPI Direct, a direct marketing and brand management company based in Portland, had 2012 revenue of $2.6 million, which represented 234 percent growth from its 2009 revenue. The company was founded in 2005 and employed 20 people as of Dec. 31, 2012. This is KPI’s second time appearing on the list. It placed No. 1,091 in 2012.

No. 2,043 — Putney, a Portland-based pharmaceutical company developing FDA-approved generic medications for pets, had 2012 revenue of $19.2 million, which represented 183 percent growth from its 2009 revenue. The company was founded in 2005 and employed 36 people as of Dec. 31, 2012. This is Putney’s second time appearing on the list. It placed 1,040th in 2011.

No. 2,507 — ITS, an IT services provider based in Bar Mills, a village in Buxton, had 2012 revenue of $8.3 million, which represented 142 percent growth from its 2009 revenue. The company was founded in 2001 and employed 14 people as of Dec. 31, 2012. This is ITS’ first time on the list.

No. 3,055 — Winxnet, an IT services and software development company based in Portland, had 2012 revenue of $7.7 million, which represented 109 percent growth from its 2009 revenue. The company was founded in 1998 and employed 56 people as of Dec. 31, 2012. This is Winxnet’s second time on the list. It placed 3,347th in 2012.

No. 3,493 — Sage Data Security, an information security firm based in Portland, had 2012 revenue of $2.4 million, which represented 88 percent growth from its 2009 revenue. The company was founded in 2002 and employed 21 people as of Dec. 31, 2012. In November 2012, the Bangor Daily News reported that the company was being acquired by a Boston-based private investment firm called Knob Hill Partners. This is Sage Data Security’s first time on the list.

No. 3,741 — Bar Harbor Foods, a specialty seafood processor based in Whiting, had 2012 revenue of $7.8 million, which represented 78 percent growth from its 2009 revenue. The company was founded in 1916 as the East Machias Canning Co. It employed 28 people as of Dec. 31, 2012. Bar Harbor Foods is the longest-running Maine company to be featured on the Inc. 5,000 list. This is its seventh year. It has placed on the list every year since 2007.

No. 4,848 — Mailings Unlimited, which provides data management and shipping services for corporate clients, had 2012 revenue of $10.5 million, which represented 40 percent growth from its 2009 revenue. The Portland-based company was founded in 2000 and employed 29 people as of Dec. 31, 2012. This is Mailings Unlimited’s sixth time on the list. It has placed on the list every year since 2008.

http://bangordailynews.com/2013/08/20/business/13-maine-businesses-make-inc-magazines-list-of-fastest-growing-private-companies/ printed on July 28, 2014