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Canada's Fastest-Growing Businesses Unveiled

June 3, 2013

News Releases

– PROFIT Magazine releases its 25th annual PROFIT 500 ranking of the country’s top growth businesses –
– For the first time, PROFIT 500 firms are ranked by sector, in addition
to overall rankings –

– For the full list, visit www.PROFIT500.com or pick up the Summer issue of PROFIT Magazine –

TORONTO, June 3, 2013 /CNW/ – The past five years have not been very
kind to Canadian businesses. Yet, the performances of the firms on
PROFIT Magazine’s 25th annual ranking of Canada’s Fastest-Growing
Companies—renamed this year as the PROFIT 500—have raised the bar on
what it means to thrive in a challenging economy. The trailblazing
entrepreneurs on the PROFIT 500 are a diverse group of super-achievers
who prove that there are many paths to success. Canada’s
Fastest-Growing Companies operate in a wide array of industries, from
IT and retail to manufacturing and education. Not surprisingly, 378 of
the PROFIT 500 are headquartered in Canada’s six largest urban centres,
including Greater Toronto (187 firms), Vancouver (60), Montreal (46),
Calgary (42), Edmonton (24) and Ottawa-Gatineau (19). But more than a
few PROFIT 500 firms prove that fast growth can take root anywhere; the
list includes Luseland, Sask., Heckman’s Island, N.S., and Baie-Comeau,
Que. For more on these trailblazers and their tactics for generating
exponential growth, pick up the Summer issue of PROFIT Magazine or
visit www.PROFIT500.com. To find out which are the Fastest-Growing Companies in different
Canadian cities, visit www.PROFIT500.com.

The Top 10 companies on the 2013 PROFIT 500
(by five-year revenue growth)

  1. Avigilon Corp., Vancouver (49,908%)
    Sector: Business products

  2. Mood Media Corp., Vaughan, Ont. (41,364%)
    Sector: Marketing services & media

  3. EcoSynthetix Inc., Burlington, Ont. (9,676%)
    Sector: Business products

  4. Terrapro Group Inc., Sherwood Park, Alta. (7,730%)
    Sector: Natural resources

  5. PiiComm Inc., Alfred, Ont. (4,164%)
    Sector: IT

  6. Clevest Solutions Inc., Richmond, B.C. (4,125%)
    Sector: Software development

  7. DevFacto Technologies Inc., Edmonton (3,936%)
    Sector: IT

  8. Mint Technology Corp., Toronto (3,700%)
    Sector: Financial services

  9. Tangentia Inc., Toronto (3,453%)
    Sector: IT

  10. HC Piper Manufacturing Inc., Calgary (3,400%)
    Sector: Natural Resources

Top 5 sectors (by number of companies)

  1. IT: 79
  2. Business products: 59
  3. Marketing services & media: 45
  4. Construction: 42
  5. Business services: 41

Anatomy of a CEO: Fast facts about PROFIT 500 entrepreneurs

  • Average age: 46
  • Age range: 27 to 83
  • Share with an MBA: 15%
  • Female CEOs: 14%
  • Serial entrepreneurs: 61%
  • Family businesses: 25%
  • Average compensation: $386,000

How we ranked them
All applicants were ranked by five-year percentage revenue growth,
generally from 2007 through 2012. PROFIT shortlisted companies based on
revenue figures supplied on a short self-nominating ballot, then
verified revenue claims and eligibility through phone interviews and
reviews of applicant-supplied financial statements. A minimum revenue
requirement of $2 million in the most recent fiscal year (e.g., 2012)
applied to all companies; growth rates were calculated using a
base-year (e.g., 2007) minimum of $200,000. Franchisors were ranked on
their corporate revenue only, not system-wide sales. For full
eligibility criteria and more details on the ranking procedure, visit PROFIT500.com/faq.

About PROFIT Magazine and PROFITguide.com
PROFIT: Your Guide to Business Success is Canada’s preeminent
publication dedicated to the management issues and opportunities facing
small and mid-sized businesses. For 31 years, Canadian entrepreneurs
and senior managers across a vast array of economic sectors have
remained loyal to PROFIT because it’s a timely and reliable source of
actionable information that helps them achieve business success and get
the recognition they deserve for generating positive economic and
social change. Visit PROFIT online at PROFITguide.com.

SOURCE: PROFIT Magazine