2013-10-17 18:35:47 - Tencarva Machinery Company, a distributor of pumps, pumping systems, fluid handling systems and related products, headquartered in Greensboro, N.C., ranks 34th in the recent 2013 “Fast 50” listing of top-performing, privately held companies in the greater Triad area, selected by "The Business Journal Serving the Greater Triad Area."
Tencarva is appearing for the ninth time in the Fast 50 ranking in the last 10 years. "The Business Journal" honored winners at its 15th annual awards gala event on September 19, at the Hayworth Fine Arts Center at High Point University, in High Point, N.C. The winners are featured in a special section of the September 20, 2013, issue.
Rod Lee, Tencarva president, indicates three primary reasons that Tencarva grew between 2010 and 2012:
• Tencarva made three strategic acquisitions during that period.
• Tencarva experienced a market recovery after 2009.
• Customers' in Tencarva's markets have increased their reliance on outside vendors for repairs and maintenance of their rotating equipment.
Lee explains that the company increased its service
capabilities and its emphasis on that aspect of Tencarva's business. He points out, "In the engineered sales market, our highly technically skilled sales force gives us a significant competitive advantage. This has been our position since 1978. We have maintained this advantage by continuing to recruit engineering graduates for our sales team and have improved our advantage by increasing the resources and support available to them."
The awards are presented by The Business Journal in conjunction with presenting sponsors MassMutual Financial Group – Piedmont Triad, North State Business, Smith Leonard PLLC and Wells Fargo as well as supporting sponsors Hill Chesson & Woody and Robert Half.
Through a confidential process, nominations are submitted to Smith Leonard PLLC, which verifies each company’s revenues during the three-year period between 2010 and 2012. Smith Leonard then ranks the nominees based on a formula that factors in both dollar and percentage change for their three most recent fiscal years.
This year’s rankings on revenue growth were based on the following criteria for each company:
• Must be a private, for-profit venture
• Have its U.S. headquarters in the Triad area
• Must have finished three full fiscal years and had sales of at least $2 million in its last fiscal year.
Tencarva Machinery Company was honored nationally as 41st in the 2013 “Big 50” list of Industrial Distribution magazine. Tencarva also ranked 44th in the “Grant Thornton North Carolina 100” privately owned companies as published in "Business North Carolina" in October 2013 and 35th in the "North Carolina Mid-Market Fast 40" 2012 ranking by the publication.
Tencarva Machinery Company, headquartered in Greensboro, N. C., is a distributor specializing in pumps, liquid process, and custom-designed systems for the industrial and municipal marketplace. Tencarva is dedicated to providing the highest quality process machinery, coupled with superior customer service and integrity. Founded in 1978, Tencarva Machinery Company supplies innovative engineering assistance, professional equipment selection with extensive product and parts inventory, as well as preventive maintenance and repair services to all its customers.
Tencarva has 344 employees at 28 branches in eight states, including Arkansas, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.
For additional details on Tencarva, contact Ed Pearce, secretary/treasurer, at Tencarva Machinery Company, 1115 Pleasant Ridge Road, Greensboro, NC 27409-9753, (336) 665-1435. For further information on Tencarva and its services, please visit the website at www.tencarva.com