N.H.'s only Inc. 500 firm in 2012 is moving to Kentucky

Of the 31 New Hampshire companies listed on Inc. magazine's 2012 list of the 5,000 fastest-growing private companies in the United States, only one cracked the top 500 -- and it has been slowly relocating from Hudson to Kentucky since the spring.


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Of the 31 New Hampshire companies listed on Inc. magazine's 2012 list of the 5,000 fastest-growing private companies in the United States, only one cracked the top 500 -- and it has been slowly relocating from Hudson to Kentucky since the spring.

NorAm International Partners came in 190th place on the 2012 list, with its three-year revenue growth rising 1,847 percent from $8 million in 2008 to $154.9 million in 2011.

But the company, which had been headquartered in Hudson since October 2009, has since relocated to Hebron, Ky.

According to the Business Courier of Cincinnati, NorAm began slowly moving to the Bluegrass State in April, selecting Hebron "because of its location and the quality of the local workforce." It has hired 225 employees there, the paper reported.

Michael DuGally, the company's CEO, told the Nashua Telegraph in May that it needed more space and wasn't able to find a move-in ready space that was large enough for its needs in southern New Hampshire.

NorAm buys and distributes overstock and wholesale media products like video games, DVDs and CDs. According to the Telegraph report, about 200 employees lost their jobs in New Hampshire.

The company was founded in 2006 in Massachusetts, but moved to the Granite State in 2009. In a 2010 interview with NHBR, DuGally said they had been "looking to move the company to either Kentucky or New Hampshire" but that the New Hampshire Department of Resources and Economic Development "really rolled out the red carpet for us."

DuGally told the Telegraph that the state tried to keep NorAm from moving, but it couldn't overcome higher shipping costs and the lack of suitable space.

Meanwhile, 30 other New Hampshire companies made the 2012 Inc. 5,000 list for their rapid growth over the past three years.

They are, in order of their ranking:

• No. 592: RevereIT, Nashua. Three-year growth: 616 percent. 2011 revenue: $9.6 million. 2008 revenue: $1.3 million. Employees: 115.

• No. 912: Madison Components, Hampton. Three-year growth: 362 percent. 2011 revenue: $7.9 million. 2008 revenue: $1.7 million. Employees: 26.

• No. 1,160: Dyn Inc., Manchester. Three-year growth: 271 percent. 2011 revenue: $17 million. 2008 revenue: $4.6 million. Employees: 107.

• No. 1,427: The Nagler Group, Bedford. Three-year growth: 211 percent. 2011 revenue: $3.6 million. 2008 revenue: Employees: 9.

• No. 1,617: Bean Group, Portsmouth. Three-year growth: 182 percent. 2011 revenue: $12.5 million. 2008 revenue: $4.4 million. Employees: 12.

• No. 1,681: Single Digits, Manchester. Three-year growth: 172 percent. 2011 revenue: $11.7 million. 2008 revenue: $4.3 million. Employees: 105.

• No. 1,739: Mainstay Technologies, Laconia. Three-year growth: 164 percent. 2011 revenue: $2.5 million. 2008 revenue: $934,881. Employees: 19.

• No. 1,752: Planet Fitness, Newington. Three-year growth: 216 percent. 2011 revenue: $157.1 million. 2008 revenue: $49.7 million. Employees: 195.

• No. 1,958: ENCO Industries, Plaistow. Three-year growth: 138 percent. 2011 revenue: $6.2 million. 2008 revenue: $2.6 million. Employees: 20.

• No. 2,173: Alexander Technology Group, Bedford. Three-year growth: 119 percent. 2011 revenue: $6.5 million. 2008 revenue: $3 million. Employees: 10.

• No. 2,176: RewardsNOW, Dover. Three-year growth: 118 percent. 2011 revenue: $16.9 million. 2008 revenue: $7.8 million. Employees: 54.

• No. 2,303: WEI, Salem. Three-year growth: 109 percent. 2011 revenue: $70 million. 2008 revenue: $33.5 million. Employees: 52.

• No. 2,419: VXi, Dover. Three-year growth: 101 percent. 2011 revenue: $22.2 million. 2008 revenue: $11.1 million. Employees: 58.

• No. 2,541: GourmetGiftBaskets.com, Londonderry. Three-year growth: 95 percent. 2011 revenue: $15.3 million. 2008 revenue: $7.8 million. Employees: 56.

• No. 2685: Namtek, Bedford. Three-year growth: 88 percent. 2011 revenue: $13.5 million. 2008 revenue: $7.2 million. Employees: 60.

• No. 2,779: EarthTron, Portsmouth. Three-year growth: 83 percent. 2011 revenue: $2.5 million. 2008 revenue: $1.4 million. Employees: 13.

• No. 2,928: Rustic Crust and American Flatbread, Pittsfield. Three-year growth: 76 percent. 2011 revenue: $10.6 million. 2008 revenue: $6 million. Employees: 75.

• No. 3,072: Integrated Deicing Services, Manchester. Three-year growth: 65 percent. 2011 revenue: $29.6 million. 2008 revenue: $17.9 million. Employees: 733.

• No. 3,132: KBW Financial Staffing and Recruiting, Bedford. Three-year growth: 67 percent. 2011 revenue: $7.3 million. 2008 revenue: $4.3 million. Employees: 12.

• No. 3,144: Legacy Supply Chain Services, Portsmouth. Three-year growth: 67 percent. 2011 revenue: $192.1 million. 2008 revenue: $115.3 million. Employees: 1,147.

• No. 3,242: Smartware Group, Center Harbor. Three-year growth: 62 percent. 2011 revenue: $2.4 million. 2008 revenue: $1.5 million. Employees: 20.

• No. 3,304: Adaptive Communications, Portsmouth. Three-year growth: 60 percent. 2011 revenue: $38 million. 2008 revenue: $23.8 million. Employees: 36.

• No. 3,340: Agility Mfg, Dover. Three-year growth: 58 percent. 2011 revenue: $5.7 million. 2008 revenue: $3.6 million. Employees: 51.

• No. 3,443: Trade Wings, Portsmouth. Three-year growth: 55 percent. 2011 revenue: $19 million. 2008 revenue: $12.2 million. Employees: 32.

• No. 3,494: Digital Prospectors, Exeter. Three-year growth: 54 percent. 2011 revenue: $26.8 million. 2008 revenue: $17.5 million. Employees: 113.

• No. 3,700: Highland Forwarding, Bedford. Three-year growth: 46 percent. 2011 revenue: $13.1 million. 2008 revenue: $8.9 million. Employees: 20.

• No. 3,811: Cellular Specialties, Manchester. Three-year growth: 42 percent. 2011 revenue: $60.5 million. 2008 revenue: $42.5 million. Employees: 179.

• No. 4,558: Horizon Technology, Salem. Three-year growth: 20 percent. 2011 revenue: $6.9 million. 2008 revenue: $5.8 million. Employees: 36.

• No. 4,631: Simbex, Lebanon. Three-year growth: 18 percent. 2011 revenue: $3.1 million. 2008 revenue: $2.6 million. Employees: 18.

• No. 4,648: The Barking Dog, Exeter. Three-year growth: 17 percent. 2011 revenue: $3.6 million. 2008 revenue: $3.1 million. Employees: 65. - KATHLEEN CALLAHAN/NEW HAMPSHIRE BUSINESS REVIEW

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