Two Grand Valley companies rank among the fastest-growing private firms in the United States, according to the latest version of an annual list compiled for a national magazine.
FHE in Fruita and Coldwell Banker Distinctive Properties in Grand Junction are included in the Inc.
magazine 5000 for 2019.
Inc, compiles a list of the 500 and 5,000 fastest-growing companies based on revenue growth over the past three years. Companies apply for inclusion and report their revenues.
FHE, a company that manufactures equipment for the oil and natural gas industry, ranked 933rd on the list. FHE reported $125.5 million in revenue for 2018, a 456 percent increase over 2015.
FHE has experienced increased demand for new products the company has developed, especially a product called the RigLock. The device enables workers to remotely connect pressure control equipment to wellheads — which not only increases the speed, efficiency and profitability of operations, but also safety.
Coldwell Banker Distinctive Properties, a real estate firm with a total of 13 offices in the Rocky Mountain region, ranked 2,341st. The firm reported $20.3 million in revenue for 2018, a 171 percent increase over the past three years.
In a separate measure, Coldwell Banker Distinctive Properties ranked 25th among the top 50 movers in the 2019 REAL Trends 500 based on a 207 percent increase in closed transaction sides between 2014 and 2018.
A total of 156 Colorado companies made the Inc. 5000 for 2019, including two more Western Colorado firms. Grassburger, a restaurant firm based in Durango, ranked 3040th. Nomadness, a vacation property management service based in Steamboat Springs, ranked 3,930th.