Bonfiglioli USA, a wholly-owned subsidiary of Bonfiglioli Riduttori S.p.A., the Bologna, Italy-based leader in power transmission for mobile and self-propelled machines, announces that is has been named to the 2014 Inc. 5000 list, as one of the fastest-growing private companies in America. With three-year revenue growth of 87%, Bonfiglioli USA is ranked 3,690 out of 5,000 companies.
Now in its 33rd year, the Inc. 5000 is recognized as one of the most prestigious awards for revenue growth for privately-held companies. Inclusion in the list is based on revenue growth over a three-year period, and financial statements are reviewed to validate each company’s data. From 2010 to 2013, Bonfiglioli USA revenue grew 87%, from $68.9 M in revenue to $128.6 M. In this same timeframe, Bonfiglioli USA added 21 jobs and now has close to 80 employees, a number that is expected to grow another 30 to 50% over the next year with the addition of a manufacturing line of gearboxes in the Hebron, KY facility.
“We had never applied to the Inc. 5000 before, but we knew based on our revenue growth, we had a high probability of being included this year,” says Greg Schulte, President of Bonfiglioli USA. “Our growth in the USA is due to a number of factors including increased sales, implementing lean manufacturing practices, product diversification and having the highest quality gearboxes on the market today. We look forward to even more growth in the next couple of years as we continue to bring manufacturing to the USA.”
Bonfiglioli USA will be recognized at the Inc 500/5000 annual conference and awards ceremony in Phoenix, AZ, October 15 to 17.