Companies on the 2023 Inc. 5000 Regionals: Northeast list had an average growth rate of 450 percent.
HOOKSETT, N.H., Feb. 28, 2023– Inc. magazine today revealed that Merchants Fleet, the nation’s fastest growing fleet management company, is No. 155 on its third annual Inc. 5000 Regionals: Northeast list, the most prestigious ranking of the fastest-growing Northeast private companies, based in Connecticut, Massachusetts, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Northeast.
“We are proud to be the fastest-growing in our industry, and it is an honor to be recognized by Inc. for a second time.” said Brendan P. Keegan, Chairman, CEO and President of Merchants Fleet. “The fleet industry has seen monumental changes over the past 3 years, and it has allowed our company to innovate and grow at an incredible pace. As the most electrified fleet management company on the planet, the work we are doing with fleet electrification is a critical step toward a more sustainable future for our clients and our nation.”
Merchants first landed on Inc’s Fastest Growing Private Companies list in 2020 and has continued to see historic growth in the years since. In 2022, Merchants celebrated 60 years in business and put over 23,000 vehicles on the road in the Mobility space alone, including the last mile industry with 5 million packages per day delivered in a vehicle managed by Merchants—90,000 of those packages in electric vehicles—during the peak holiday season.
“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies. They’re disrupters and job creators, and all delivered an outsize impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come,” said Scott Omelianuk, editor-in-chief of Inc. magazine.
The companies on this list show a remarkable rate of growth across all industries in the Northeast region. Between 2019 and 2021, these private companies had an average growth rate of 450 percent and, in 2021 alone, they added 12,066 jobs and nearly $4.4 billion to the Northeast region’s economy. Companies based in the New York and Boston areas had the highest growth rates overall.
Complete results of the Inc. 5000 Regionals: Northeast can be found at inc.com/northeast.
About Inc. and the Inc. 5000 Regionals
The 2023 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2019 and 2021. To qualify, companies must have been founded and generating revenue by March 31, 2019. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2021 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.