Inc. magazine named Lumitec to its list of the 500 fastest-growing private companies in America.
The magazine ranked the Delray Beach., Fla., company, which specializes in LED lighting, No. 399 on the 2012 list and the sixth-fastest-growing manufacturing company in the country during the last four years.
The 2012 Inc. 500, unveiled in the September issue, is the most competitive crop in the list’s history. To make the cut, companies had to have achieved a minimum of 770 percent in sales growth. The Inc. 500’s aggregate revenue is $15.7 billion, with a median three-year growth of 1,431 percent. The companies on this year's Inc. 500 employ more than 48,000 people and generated more than 40,000 jobs in the past three years.
“We are extremely proud to have been included in this prestigious group, particularly as a company who is manufacturing here in the U.S.,” John Kujawa, Lumitec’s president and founder, said in a statement. “The recognition is a testament to the talent and devotion of our team and the enthusiasm of our customers. The last five years have been an exciting ride, and the future looks similarly promising.”
Since 2007, when Kujawa launched Lumitec, the company has grown to more than 25 full time employees, quadrupled manufacturing space and exceeded $5 million in sales. Lumitec said it has had nearly 1,000 percent growth in the past three years.