Logistics firms, a software company and a pet resort chain are among the companies based in the Wilmington area that ranked on this year’s list of the fastest-growing private companies in the U.S.
The Inc. 5000 list, released Tuesday by national business publication Inc. Magazine, ranks companies in the U.S. based on three years of revenue growth, with this year’s list spanning from 2019 to 2022. Companies must be independent and have generated at least $2 million in revenue last year to be eligible.
Taking the highest spot in the Wilmington area was third-party logistics firm Summit Logistics Group, one of three local companies, including Edward Teach Brewing and Summit Industrial, owned by Gary Sholar.
Daniel Fountain, director of logistics for Summit, said this year’s ranking of 190 marks the second year his company has landed on the list, taking the No. 353 spot last year.
“I think it’s definitely a testament to our team and the hard work that they’re putting in with our customers and our carriers and the trust that they’ve built with all of them in order to continue to grow our company, our customer base since last year,” Fountain said.
Founded in 2016, Summit Logistics, which has an office in the Mayfaire area, has 37 employees in Wilmington, he said.
According to Inc., to make the list, companies must have been founded and generating revenue by March 31, 2019.
“They must be U.S.-based, privately held, for-profit, and independent – not subsidiaries or divisions of other companies – as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million,” the Inc. description states.
Community association software firm Vantaca, headquartered on Wrightsville Avenue in Wilmington, got the second-highest spot, No. 905, on the list of the local companies that made the cut.
"Three consecutive years on the Inc. 5000 list highlights our growth to date, but for Vantaca, the horizon holds even more promise," said Ben Currin, CEO of Vantaca, in an email Wednesday. "Our continued growth is a testament to our fantastic customers, and to the Vantaca team’s willingness to push our boundaries and find our potential. Together, we're committed to excellence and innovation to the community management industry.”
Asked about his number of employees, Currin said, "Vantaca has approximately 140 team members and we will continue to grow the team to meet our expanding opportunities in the community management industry."
MegaCorp Logistics, another Wilmington-based firm, ranked No. 2,550 on the list. The company is "thrilled to be recognized nationally for (its) hard work and dedication," Katie Braskett, the company's director of marketing said in an email Wednesday.
"This achievement wouldn't have been possible without the incredible efforts put forth by our amazing team here at MegaCorp," Braskett said. "Additionally, we are extremely thankful to have a phenomenal CEO like Ryan Legg who goes above and beyond to create an incredible work environment for us all. His dedication and vision have truly transformed our workplace into a thriving hub of innovation and growth."
Pawville, a pet resort chain based in the Wilmington area, also made the list again. The company has most recently grown to include urgent care clinics for pets.
The following are all of the main Inc. details for companies that made the 2023 list:
Summit Logistics Group
Three-year growth: 2,834%
Industry: Logistics & Transportation
Catalyst Clinical Research
Gibson Consultants of Wilmington
Clarity Conseling Center
Emma Dill - Dec 4, 2023
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