STUART, Fla. -- Lenco Marine, Inc. is proud to be selected as one of fifty leading second-stage companies selected from more than 500 nominations statewide, as this year’s Florida Companies to WatchSM winners. All 2014 winners will join an esteemed group of 150 Florida alumni honored over the past three years.
Florida Companies to Watch is an awards program that celebrates privately held second-stage companies headquartered in the state. To be eligible, applicants must employ between 6 and 99 full- time equivalent employees and have between $750,000 and $50 million in annual revenue or working capital in place. Awardees are selected for demonstrating the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage, outstanding corporate culture, inspired community giving and other notable strengths.
“Florida Companies to Watch is honored to recognize another outstanding group of stage-two companies,” said Dr. Tom O’Neal, executive director of the Florida Economic Gardening Institute and associate vice president for the University of Central Florida’s Office of Research and Commercialization. This is our fourth year of celebrating second-stage business leaders throughout the state of Florida. The companies selected for the Florida Companies to Watch awards program stand out among their peers as companies that should be celebrated. In Florida, they account for 5 percent of the companies and nearly 30 percent of the jobs. These companies make a difference and we’re happy to offer the recognition they deserve.”
“We are extremely honored to have been awarded as a Florida Company to Watch Winner. Our goal is simply to provide the best product every single day for each and every one of our customers. The dedication our team has to the marine industry is no doubt the key to our success,” said Richard DeVito, President, Lenco Marine.
Florida Companies to Watch is unique because of its focus on second-stage companies and the wide- ranging industries they represent. The impact of these companies on Florida’s economy is immense, and this year’s honorees are examples of such companies in the state. Overall, the 2014 winners had $370 million in total annual revenue in 2013, which was a 36 percent increase in total annual revenue compared to 2012. They employed 1,757 full-time equivalent employees, with 462 net new jobs projected for 2014.