Systel Named One of Fastest- Growing Private Companies in America28 Aug, 2013
Fayetteville, NC - August 23, 2013 – Systel Business Equipment has been honored for a second time by Inc. magazine’s exclusive list of the fastest growing private companies in America. The first time Systel received this honor was back in 1987, earning the 260th spot on what was known then as the Inc. 500. Systel has continued to grow as an industry leader with a growth rate of over 47% in the past three years earning a spot on the 2013 Inc. 500|5000 list with other top companies throughout the United States.
The list, an exclusive ranking of the nation’s fastest growing companies, represents a full comprehensive look at the most important segment of the economy, America’s independent entrepreneurs. Companies such as Microsoft, Zappos, Intuit, OtterBox and many other well-known names gained early exposure as members of the Inc. 500|5000 list.
Systel grew from $35,000,000 in revenue in 2009 to over $50,000,000 in 2012 by adapting their business model during a declining economy, managing not only to cut costs for customers but also increase customer revenue and productivity through business process optimization and streamlining business processes.
“It’s rewarding to know 25 years later, that Systel can still be recognized on a national level for our growth and success, especially in this economy with even tougher challenges facing our Industry and Corporations of our size,” Says Keith Allison, President & CEO. “Our long time and loyal customers deserve the credit for this prestigious award. Systel has had many of the same customers for over 25 years that we’ve worked with over time to grow their business which in turn has led to our success.”
Inc. Magazine named 137 North Carolina businesses as honorees, proving growth and innovation in difficult economic times. According to the Inc. 500|5000 list, Systel is among the top 15 private companies in North Carolina specifically in the business products and services industry continuing an impressive growth in the US. The aggregate growth of business products and services has grown by 81% across the nation over the past four years.
It is very encouraging for Systel, as a privately held company, to see other private companies continuing to be leaders in their industries, creating local jobs and stimulating economic growth in Systel’s geographic markets. In a stagnant economic environment, the median growth rate of 2013 Inc. 500|5000 companies was an impressive 142 percent. The companies on this year’s list report having created over 520,000 jobs in the past four years, and aggregate revenue among the honorees reached $241 billion.
With continued support from loyal customers and an unparalleled commitment to performance & quality, Systel will continue to grow as an industry leader in the Southeast. Systel has clearly proven to provide superior office equipment and business solutions for over 25 years with this impressive recognition from Inc. magazine for a second time as one of the nation’s fastest growing private companies.
About Systel Business Equipment
Systel Business Equipment Co., Inc is a North Carolina based company with annual sales of fifty million dollars and over 250 employees. Systel is the Southeast’s Largest Independent Dealer of Ricoh, Panasonic, HP, and Konica Minolta Products & Solutions with ten locations servicing the Carolinas and Georgia. In 2011 & 2012, Systel was awarded for their growth and economic success with the Elite Dealer Award by The Week in Imaging and being named among NC’s Top 100 Private Companies by Grant Thornton for the last three consecutive years. Most recently Systel was recognized by Ricoh Corporation as one of Ricoh’s top 3 largest dealers in the United States. Systel also received the designation of Managed Print Advanced Specialist by Hewlett Packard, the highest HP designation for sales and service on the widest selection of printing and imaging products.