Orange County’s fastest-growing private companies continued to post amazing revenue growth despite the pandemic that slowed down many companies last year.
This year’s list of the 60 fastest-growing private companies in OC saw their combined revenue climb to $23.9 billion for the trailing 12 months ended June 30, a 56% rise from two years ago. While more firms were on last year’s list, 87, they grew their combined revenue at a slower pace, 36%.
Their sales grew at a faster pace than their base of OC employees, which increased to 11,035, up 18% from two years ago.
The city with the fastest growers is again Irvine, which claimed 14 of the top spots. That compares with nine in Santa Ana, five in Newport Beach and four each in Costa Mesa, Orange and Tustin.
Twenty of Orange County’s 34 cities had at least one fast-growing company on the list.
The list of fastest-growing companies is diverse, ranging from structural concrete maker Largo Concrete Inc. of Tustin to managed technology servicer TeamLogic IT of Mission Viejo to beauty products supplier Manna Kadar Beauty of Irvine.
The Business Journal divides the list into three categories: large companies reporting more than $100 million in annual sales; midsize companies with sales between $10 million to $100 million; and small companies with sales under $10 million.
The companies on the midsize list reported the highest two-year growth, 70%, followed by smallest companies list, 61%, and 55% among the biggest companies.
Rankings are based on revenue growth reported between June 30, 2019 and June 30, 2021. Companies needed to post two-year growth of 15% or more to qualify for the list.
What follows are just some of the highlights seen in the trio of lists in this week’s Special Report:
• Costa Mesa’s SmartFinancial, an insurance marketing firm, reported the fastest overall growth rate, 360% to $92 million.
“What unites this team is the mission we’re on—to help people save money on insurance,” co-founder and Chief Executive Lev Barinskiy told the Business Journal during a visit to his office earlier this year.
“Our ability to bring insurance products to the masses and allow people to save money—everybody can feel and touch the benefits of their labor.”
• The fastest grower on the large company list was Tustin’s New American Funding, which climbed 303% to $1.4 billion.
Patty Arvielo, the co-founder and president of the mortgage originator along with her husband, Rick Arvielo, is slated to be the keynote speaker at the Business Journal’s annual Women in Business Awards, scheduled for Oct. 28 at the Irvine Marriott.
• Anaheim’s Fresh N’ Lean, which prepares organic prepared meals, reported a 276% jump in sales to $100 million, good for No. 2 on the large company list (see story, page 1). It’s aiming to become a billion-dollar company via a new food-making facility in Nevada.
• This week’s Leader Board on page 85 features excerpts from CoolSys Inc. CEO Adam Coffey’s latest book, “The Exit Strategy Playbook.” CoolSys, a provider of air conditioning and heating units, reported two-year sales growth of 52% to $630 million, good for the No. 9 spot on the large companies list.
• Revenue at Spinnaker Investment Group of Newport Beach continued to accelerate, growing 41% to $3.5 million, good for No. 10 on the small companies list. Last year, it reported a 31% rise.
• Irvine’s Americor Funding Inc., a provider of debt solutions for consumers, continued its torrid growth, climbing 193% to $142 million, No. 4 on the large companies list. A year ago, it led the midsize company list by increasing sales 492%.
• Santa Ana’s Salas O’Brien, an engineering firm that’s been on an acquisition streak, reported 55% growth to $174 million. Last year, it had 87% sales growth.
• Alliant Insurance Services Inc. of Newport Beach in 2017 surpassed $1 billion in annual sales. This year, it surpassed $2 billion, reporting a 38% rise to $2.03 billion.