Three Mahwah Businesses Among Fastest Growing In US
Companies headquartered in Mahwah showed millions of dollars of growth over the past three years, report finds
Three corporations based in Mahwah were named some of the fastest growing companies in America by Inc. Magazine’s annual 5,000 list.
The September issue of Inc. ranks the 5,000 privately-owned companies in the US that have demonstrated the biggest growth over the past year.
Mahwah-based Thermal Paper Direct was ranked #1699. The company manufactures and sells paper rolls, printer ribbons, and other thermal paper products in common and specialty sizes. Thermal Paper Direct does business through its online store and through direct orders.
The Inc. list quotes the company as growing 169 percent from 2008 to 2011, jumping from $2.9 million to $7.9 million in revenue during that time. The business was founded in 2005.
Cases by Source, a manufacturing company founded in 1985 and headquartered on Island Road, was named #4547 on the list. The company manufactures reusable packaging used to transport products like medical devices, military equipment, electronics and firearms.
According to Inc., Cases by Source grew 20 percent from 2008 to 2011. The company’s revenue jumped from $5.5M to $6.6M over the three-year period.
Infoaxis, located on Route 17 South, was ranked #4486. It posted a 22 percent growth over three years, raising revenue from $13.5 million in 2008 to $16.4 million in 2011.
The IT-services company, founded in 1999, provides computer, cloud and backup solutions to businesses. Originally based in Allendale, Infoaxis announced its relocation to Mahwah earlier this month.
A payment-processing and holding company based in North Miami Beach, Florida, came in #1. According to Inc. Magazine, in 2008 “Unified Payments acquired eight equity-distressed competitors struggling through the recession. [The CEO] shut most of those companies down and absorbed their customers into Unified Payments. His holding company now services more than 100,000 merchants in the United States and handles approximately $10 billion in transactions annually.”
The company’s total revenue in 2011 was $59.5 million, up 29,646 percent from 2008, the report found. It’s founder and CEO Oleg Firer is a Russian immigrant who grew up in Brooklyn.
To view Inc.’s entire list organized by state, click here.