Businesses on the rise: These 11 Wilmington companies are among the nation's fastest growing

Emma Dill, Wilmington StarNews
·4 min read
Eleven businesses in the Wilmington area made it onto Inc. Magazine's list of the 5,000 fastest growing private companies in the U.S.
Eleven businesses in the Wilmington area made it onto Inc. Magazine's list of the 5,000 fastest growing private companies in the U.S.

Eleven Wilmington-area businesses made it onto the list of the 5,000 fastest growing private companies nationwide.

The annual list, which was published last week by Inc. Magazine, includes a Surf City company that makes seafood steam pots, a Wilmington trucking and logistics firm and a pet-focused business that provides boarding, grooming and vet care.

Inc. Magazine reports on U.S. business news and is well-known for its annual ranking of the nation's fastest growing private businesses. Companies were eligible for this year's list if they brought in at least $100,000 in revenue in 2018 and at least $2 million in 2021. The firms were then ranked by their percentage revenue growth between 2018 and 2021.

The top spot on this year's Inc. 5,000 list went to New Jersey company BlockFi, a business working to bridge the gap between traditional finance and cryptocurrency. The company saw revenue growth of more than 245,600% in the last three years.

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Closer to home, Wilmington's Innovative Financial Group cracked the list's top 100, landing at No. 78.  In the last three years, the company logged growth of 5,232%. The firm, which helps insurance agents and managers brand and grow their business, also made the list in 2020.

Local human resource companies LRB Group and Gibson Consultants of Wilmington also made the list. LRB Group landed at No. 277 with 1,982% growth over three years and Gibson Consultants ranked No. 802 with 788% business growth.

In a news release, Jim Gibson, president of Gibson Consultants, wrote the ranking stems from hard work from the company's employees, a commitment to improving on efficiency "while not skimping on quality," and maintaining a company culture that values people.

"With this recipe, we’ve been able to capitalize on the economic health of our niche industry,” Gibson wrote.

Summit Logistics Group, another Wilmington-based company, has also worked to take advantage of opportunities in its industry.

The company delivers products from manufacturers to customers, working with all types of businesses -- from those who need overseas shipment to others with a transit distance of a few miles, said Daniel Fountain, the company's director of operations.

Although the company has dealt with some of the supply chain issues that impacted businesses nationwide, it has focused on controlling what it can, Fountain said.

Summit Logistics Group saw 1,654% growth over the last three years, ranking No. 353 on the list. Fountain credits hard work from the company's employees and customer support for the firm's growth.

Wilmington-based Vantaca made it onto Inc. Magazine's list of the 5,000 fastest growing private companies in the U.S.
Wilmington-based Vantaca made it onto Inc. Magazine's list of the 5,000 fastest growing private companies in the U.S.

"We are definitely a company on the on the rise, and achieving this award definitely signifies that," he said, "but moving forward we want to continue to grow at a fast pace, and that's something we're working hard for day in and day out."

Wilmington-based software firm Vantaca landed at No. 628 on the list with 994% growth between 2018 and 2021. The company provides software services that help home owner's associations manage their operations. Last fall, the company announced plans to invest $4.9 million in New Hanover County and add more than 100 jobs.

Two Pender County businesses also made this year's list. Topsail Steamer, a Surf City company that makes single-use seafood steam pots, grew 697% in the last three years while Maven, a veteran-owned roofing and solar company in Hampstead, grew 689% during that period. Topsail Steamer ranked No. 913 and Maven ranked No. 927 on the list.

Next up, Catalyst Clinical Research ranked No. 1,077 on the list with 605% growth in the last three years. The company provides research support to the global biopharmaceutical industry through its Catalyst Flex and Catalyst Oncology divisions. This is the firm's third time making the Inc. 5,000 list.

Rounding out the list's Wilmington businesses are advertising and marketing firm Optivate Agency, pet care business Pawville and S & S Services Group.

Optivate Agency was ranked No. 2,138 on the list with 271% growth in the last three years. The company, which specializes in retail promotions, also made it onto the list in 2021.

Pawville saw 143% growth over the last three years and ranked No. 3,602 on this year's list. The company provides pet boarding, daycare and grooming along with veterinary care at its nine locations -- several of which are in the Wilmington area.

S & S Services Group, a firm that works with homeowners associations, was ranked No. 4091 with 116% in growth over three years.

Reporter Emma Dill can be reached at 910-343-2096 or edill@gannett.com.

This article originally appeared on Wilmington StarNews: Wilmington businesses rank among the fastest growing in U.S.