Majority of Orange County's Fastest-Growing Companies are in Irvine
Tuesday, September 24, 2019
From electric bikes to dental technologies to customized sandwiches, Orange County’s eclectic mix of private companies continue to thrive.
This year’s list of the fastest-growing companies show the combined revenue of the top 100 companies here climbed to $17.8 billion as of June 30, a 48% rise from two years ago.
The city with the most fast growers was Irvine, which claimed 28 of the top spots, compared with nine each in Newport Beach and Orange, followed by eight in Costa Mesa.
Twenty four of Orange County’s 34 cities had at least one fast-growing company on the list.
It’s clear that Orange County has a diverse economy as the largest industry on the list, internet technology services, accounted for only 13 companies.
The list of fastest-growing companies was diverse, ranging from mortgage broker California Coastal Loans to Perspire Sauna Studio to 3D printer MatterHatters.
The Business Journal divides the list into three categories: large companies reporting more than $100 million in annual sales; midsize companies with sales of $10 million to $99.9 million; and small companies with sales under $10 million.
Their sales grew at a faster pace than their OC employees, which increased 28% to 13,356.
The midsized companies increased their OC headcount at the fastest pace, 71% to 4,217 jobs, a rise of 1,757 jobs from two years ago.
The smallest companies grew their employee count by 45% to 941.
The largest companies increased their headcount 11%, or by 839 employees to 8,198.
What follows are just some of the highlights seen in the trio of lists in this week’s Special Report:
• Sonendo, a Laguna Hills-based maker of dental products like the GentleWave System, reported the highest percentage growth on the list, 814% to $38.4 million.
• Alignment Healthcare of Orange led the large company list, growing 91% to $703.5 million.
• Huntington Beach-based Annealta Group, a management consulting firm, climbed 366% to $2.3 million, good for top spot on the small company list.
• Electric bikes are becoming hotter in Orange County.
Newport Beach’s Electric Bike Co. said its sales climbed 146% to $3.2 million, and its employee count jumped from three to 16.
Not to be outdone, Fountain Valley’s Pedego Electric Bikes reported a 36% rise to $20.8 million. Its OC head count has climbed from 32 to 44.
• The company that boosted its headcount the most was Costa Mesa’s MaxGen Energy Services Corp., which saw its employees grow from 102 in 2017 to 683 this year. The provider of services for solar, wind, and battery storage industries reported its revenue climbed 166% to $75.1 million.
• Other companies that saw a big increase in headcount include: Anaheim’s Fresh n’ Lean, which boosted employee count by 165 to 205, and saw its revenue soar 264% to $26.6 million by providing ready-to-eat meal delivery service; and Santa Ana’s Nékter Juice Bar Inc., up 59% to $81 million, by selling fruit drinks.
• Curiously, eight companies reduced their employee count even while increasing their revenue at least 15% from two years ago.
The most notable change was marketing agency Rauxa of Irvine that cut its employee count by 35 to 48 and still enjoyed a 35% increase in sales to $77.8 million.
Companies that have found a niche providing unique services include:
• Anaheim’s DMA Greencare Contracting, which provides commercial landscape construction, up 165% to $9.9 million.
• Santa Ana’s Sender One Climbing, a provider of indoor rock climbing gyms, up 86% to $7.4 million.
• Newport Beach’s Sessions West Coast Deli, which has seen its sales balloon 67% to $2.4 million by providing gourmet sandwiches.
• Santa Ana’s Optima Tax Relief LLC, which runs radio advertisements with popular jingles, has seen its sales climb 83% to $124 million by servicing consumers who have problems paying their taxes.
Company co-founder Harry Langenberg last year told the Business Journal that OC workers are “expensive, but people pound for pound, these are the most efficient, smartest and talented managers in the country.”
The company backed up that belief by boosting headcount from 404 in 2017 to 559 this year, a 38% increase.
Category: Business News, Economic News