Successful Companies Find a Way To Weather the Economic Storm

The Georgia’s Mid-Market Fast 40 #1 ranked company, 3PD Inc., is a culture of true dichotomy. 3PD is guided by a strong desire to be the biggest, best and brightest provider in the last-mile sector, yet it’s clearly a company that doesn’t believe in being #1 at any cost. “I believe strongly in running an organization that is wide open to letting people be who they are – and where people truly feel free to contribute,” says CEO Karl Meyer. “Too often, today’s corporate cultures imply that success can only be attained at the expense of compromising individuality, integrity and family life, and that’s not what I want this company to be. As I see it, many of our employees are essentially entrepreneurs running their own business. That’s why we place less of an emphasis on the hours and schedules people keep and more on the numbers and service levels people turn in.”

History will portray 2008 as a year of tremendous change – the start of an economic recession, a volatile decline in market values, the collapse of iconic financial institutions aided by a federal bailout, record number of foreclosures coupled with rising unemployment rates. Despite these negative economic trends, Georgia is fortunate to be home for many diverse and successful middle market businesses.

Georgia Trend Magazine partnered with the premier southeast regional CPA firm of Cherry, Bekaert & Holland LLP to select and verify the fastest growing middle market businesses in Georgia that met strict eligibility criteria and demonstrated three years of sustained sales and employment growth.

We introduce you to – Georgia’s Mid-Market Fast Forty

Eligible businesses are headquartered in Georgia with annual net sales ranging from $15 million to $1 billion complemented in most cases by an increasing workforce. The finalists represent both service and manufacturing sectors in diverse industries with many competing on a global level. A majority of the finalists are positioned in specialized niches within technology, logistics, staffing and healthcare related industries. These companies consistently focus on business fundamentals so they are not over-extended and can now utilize their strong balance sheets to acquire competitors if strategically advantageous to improve market share, new technology, or customer diversity.

Kip Plowman, partner-in-charge of Cherry, Bekaert & Holland’s Atlanta office, said, “The leaders of these companies clearly maintain an optimistic outlook of continued growth and credit their success to industry specialization and motivated employees.” The executive leaders of Georgia’s Mid-Market Fast Forty cite several other common success factors that include a diversified customer base, strong financial position, commitment to quality service, low employee turnover, and strategic mergers.

According to Bob Thornton, CEO of SunLink Health Systems, Inc., “We have focused on internal growth together with selective and disciplined acquisitions that fit with our mission of providing quality, efficient medical care and healthcare products to communities we serve.”

Robin Raina, CEO of Ebix, Inc., also credits “a strong and professional management team who believe in our people as a critical factor to our success.”

Additionally, Christine Jacobs, CEO of Theragenics Corporation, said, “If business fundamentals are strong, the company is positioned to withstand various challenges. The company should not be too leveraged.”

The growth leaders clearly see today’s weak economy as an opportunity to gain market share and further diversify their products and services within their industry. Georgia’s Fast Forty represent an elite group of strong middle market businesses positioned for continued growth and success to help drive Georgia’s economy.

“We are honored to partner with Georgia Trend to present the 2008 Georgia Fast Forty,” says Plowman. “Cherry, Bekaert & Holland prides itself on understanding and serving middle market businesses through superior service as defined by our clients. We also congratulate 3PD, Inc., one of our valued clients, for their success as the top fastest growing middle market business in Georgia for 2008.”

Cherry, Bekaert & Holland LLP ranks among the 30 largest CPA firms in the country with 21 practices located throughout the southeast. The firm has offices in both Atlanta and Augusta, Ga., with over 125 professionals providing audit and tax services to middle market businesses.

12 - MAU

MAU (Management, Analysis & Utilization) is a multi-faceted staffing, recruiting, outsourcing and human resources provider with an international customer base and a presence in more than 45 states and 27 countries. Founded in 1973, MAU is a certified, minority-owned business that offers a comprehensive range of services.