These are the Triad’s 50 fastest-growing private companies

Today, we unveil the list of the Triad’s 50 fastest-growing privately held companies — and you might be surprised at the sectors leading the way in our annual Fast 50 awards program.

We list the 50 honorees in alphabetical order below, but you’ll have to wait until our awards ceremony on Thursday, Sept. 22, to find out which company ranks where. It will be at that event, hosted by Grandover Resort & Conference Center in Greensboro, that we will count down the winners in reverse fashion, from No. 50 to No. 1.

It’s always interesting to see which sectors have the largest share of honorees, as that speaks to the composition of our local economy and how it is faring. As shown in the attached chart, our cast of honorees is divided in a fairly balanced way across sectors, which can be comforting in that all our eggs aren’t in the same basket. But also telling is that furniture and manufacturing, two areas ravaged for years by offshoring and the recession, seem to be rebounding. And real estate and construction, two other areas that took a beating in the recession, also combine in one of the strongest segments. Technology, staffing, transportation/logistics and retail/hospitality also account for sizable slices of our Fast 50 pie.

So how does Triad Business Journal determine the rankings? Smith Leonard, our accounting sponsor, has verified the financials of and ranked each of the nominated companies based on a formula that weighs both dollar growth and percentage growth. To be considered, companies must have completed three full fiscal years and had $2 million or more in revenues in 2015. Their U.S. headquarters must be based in the Triad to be considered.

The Fast 50 awards program is made possible by Title Sponsor Hill, Chesson & Wood; Presenting Sponsors Smith Leonard and Wells Fargo; and Supporting Sponsor Guilford Merchants Association.