Cedar Rapids’ Van Meter ranked 3,489 and Savant Wealth Management ranked 4,589 on the 2023 Inc. 5000, the business magazine’s annual list of the fastest-growing private companies in the U.S.
Savant Wealth Management is based in Rockford, Illinois, but has offices in Iowa City and Cedar Rapids.
The prestigious Inc. 5000 ranking provides a data-driven look at the most successful companies within the U.S. economy’s most dynamic segment — its independent, entrepreneurial businesses. There is an entry fee to be considered for the list, but not to be included.
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth between 2019 and 2022. During this time frame, Van Meter achieved an impressive three-year revenue growth rate of 143.74 percent and added more than 300 jobs in its served markets.
Savant Wealth Management’s three-year revenue growth was 89%, helping it earn a spot on the list. The firm’s projected growth is expected to continue to climb as Savant focuses on achieving its goal of three-to-five times growth over the next five years. It was ranked 248 in the financial services industry.
Van Meter
In addition to a spot on the overall Inc. 5000 list, honorees are ranked within specific business categories. Van Meter was named the Corridor’s Fastest Growing Company by the CBJ in May.
Van Meter — an electrical distributor that provides contractor and industrial solutions as well as related services — ranked 398 nationally among companies providing business products and services.
“It’s an incredible achievement for us — a result of operating with purpose, working hard, embracing smart business practices, scaling responsibly and believing in one another,” Van Meter President and CEO Lura McBride said in a statement. “I’m so proud of our people and the work they do to power our growth.”
According to Ms. McBride, Van Meter’s growth derived from a combination of initiatives.
“We’ve been intentional about entering new markets, pursuing strategic acquisitions and expanding the scope of products and services we offer customers, alongside our ongoing efforts to build relationships, leverage technology and improve our operational efficiency,” she said.
The Inc. 5000 class of 2023 represents companies that work hard to grow and be competitive in their respective industries.
“They have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital and seemingly intractable hiring challenges,” Inc. Editor-in-Chief Scott Omelianuk said in a statement. “To make the Inc. 5000 — with the fast growth that it requires — is truly an accomplishment.”
When asked what made remarkable business growth possible at Van Meter, Nate Jensema, the company’s chief operating officer and chief financial officer, Jensema credited an unwavering commitment to its 5P values: People, Partners, Progress, Place and Profit.
“We help our people be their personal best,” he said in a statement. “We develop strong relationships with our customers and suppliers. We’re committed to improving ourselves and our company every day. We give back to the communities where we work and live. And we reinvest our profit back into our business and people.”
“Our employee-owners are motivated about growing our business and evolving the ways we create value for our customers,” Mr. Jensema added. “This recognition validates their all-in commitment to one another and the people we are privileged to serve.”
Savant Wealth Management
This is Savant’s inaugural year of being recognized on the prestigious list. The company has 35 offices in 13 states and employs 464 people. It has 136 employee owners.
Savant Wealth Management is a leading independent, fee-only firm serving clients for over 30 years with approximately $20 billion in assets under management and assets under advisement.
What the list means
Inc. has recognized the fastest-growing private companies in America since 1982, with companies such as Microsoft, Patagonia, Under Armour, Facebook, Dell, Zappos, LinkedIn, Yelp, Zillow and many other well-known brands gaining their first national exposure as honorees on the Inc. 5000 list.
“It’s an honor to be recognized among so many influential brands — companies that represent the top half percent of growing businesses in America,” Ms. McBride said. “We’re going to celebrate earning a place on this prestigious list and then turn our eye toward what’s next. That’s been the Van Meter way for more than 95 years.”
Savant, Van Meter and all the honorees will be celebrated at the Inc. 5000 Gala in San Antonio, Texas, on Nov. 2. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, can be found at the magazine’s website.
