STUART, Fla. – Lenco Marine was recently included in Inc. magazine's list of America's fastest-growing private companies, it reported in a statement yesterday.
Since 1985, Lenco has produced electric trim tabs, hatch lifts and trolling motors specifically built for the marine environment. The company ranked 200 out of 500 companies on the list.
The Inc. 500 Special Issue’s list is compiled according to sales growth over the past five years. To be eligible, companies had to be independent and privately held through its fiscal year 2002, needed at least $200,000 in sales in the base year of 1998, and 2002 sales had to exceed 2001 sales, according to the company.
"Even in a down economy, it is clear that companies with innovative products can succeed," said Richard DeVito, president of Lenco Marine. "We are proud to be part of this prestigious list."
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