Inc. magazine focuses on owners and managers of private companies, so it produces annual roundups of the fastest-growing private companies in America. The resulting list the Inc. 5000 2020, and is packed with energy-related companies. These energy companies grew, uh, energetically last year, with the leaders posting some astounding numbers.
Inc broke down its top 5000 companies by industry, looking at engineering, manufacturing, transportation, and others. We’re examining the energy category, which boasts shocking average growth over the last three years of 361 percent (!), with total revenue of $5.5 billion and the creation of nearly 12,000 jobs. The three-year growth rate of the top ten companies is an almost unimaginable average of 6,423 percent.
There is incredible variety among the companies represented. Consider #5, Arete Acquisitions, which is a traditional energy company that buys mineral rights and grew nearly 3,700 percent. And Maverick Performance Products does petroleum quality assurance testing and produces private label petroleum products for retailers such as Tractor Supply. The company enjoyed 1,725 percent growth.
New energy companies are even more populous on the list, with solar panel installers like #28 Sunlux, which grew at 905 percent, and LED lighting installers such as #29 LEDLightingExpert.com, which posted 866 percent growth.
Anemois Energy Services scored a #44 spot on the list from its work servicing wind turbines, which grew by 1,186 percent. That work includes gearbox oil changes, which, naturally, must be done up on top of the windmill. However much this company pays its technicians for that work is not enough in our view, so maybe Anemois will grow even faster if they start charging what it should cost to climb up one of these wind turbines to service it!