CHULA VISTA, Calif. – Marine Group Boat Works, a San Diego-based full-service boat and super-yacht repair facility, was recognized as one of bizSanDiego magazine’s Top 10 Fastest Growing Company for 2008, according to the company.
The Marine Group, which was featured on the cover of the April issue, experienced an 88-percent increase in revenues from 2006 to 2007 and an 84-percent increase in employee growth during the same timeframe, according to the company. And The Marine Group also reported that its revenues rose from $4.8 million in 2004 to $13.3 million in 2007.
“Our fast growth can certainly be credited to our decision to expand our facility in 2006,” said Todd Roberts, vice president of The Marine Group. “We saw the demands of the superyacht market outpacing the supply of boatyards that could adequately service them, and we didn’t hesitate to expand and modernize our facility to keep up. However, the long-term success of our business goes to our team’s reputation for excellent service, producing one high-quality project after another. We’re thrilled to be recognized for all those years of hard work and are humbled by the caliber of the other bizSanDiego award recipients, who truly represent some of the finest organizations in our community.”
This was the second year in a row that bizSanDiego has recognized some of the fastest growing companies in the region. The magazine conducted a review of San Diego companies and narrowed this year’s Fast Growth finalists to 20. The publication then produced a top 10 list, based on the finalists’ revenue growth from one fiscal year to another, revenue growth averages for the last three years, local employee growth over the past year and market growth, including acquisitions, award recognitions, clients served and traction into other markets.
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