GWT Places on Inc. Magazine’s 2023 List of America’s Fastest-Growing Companies
For the 6th Time, Global Water Technology, Inc. Appears on the Inc. 5000, Ranking No. 3745 With Three-Year Revenue Growth of 128 Percent
SOUTH HOLLAND, ILLINOIS, August 16, 2023 – Inc. revealed today that Global Water Technology, Inc. ranks No. 3745 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
“The post-pandemic business and economic environment continues to be complex and challenging. We are grateful to our clients, team members, and business partners that continue to help us navigate these uncertain waters successfully,” said Michael Byerley, President & CEO at Global Water Technology, Inc. “Considering the context of the past three years, surviving would normally be the mark of success; however, thriving under these circumstances, as we have, is truly a marvel and indicative of the durability of our company, the efforts and guidance of a steady, robust leadership team, and the importance of the products and services we provide to help clients manage their water and energy needs.”
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
Speaking to GWT’s continued trajectory and the strategy for sustaining such fast-paced growth, GWT’s Chief Operating Officer, Michael Landers, said, “We know that a sustainable growth strategy starts with our people. Since becoming a national platform in 2020, amid the uncertainty of the pandemic, we have furthered our original commitment to our people by developing an industry leading and highly incentivizing compensation package, fostering a work culture that is second to none in our industry, recruiting some of the industry’s most talented individuals, and developing and progressing the careers of everyone on our team. We look forward to sustaining our rapid growth and continuing to provide a professional, family-oriented work experience that is second to none for decades to come.”
GWT boasts many highlights since its 2022 award:
- Two 2023 acquisitions, further adding to GWT’s footprint in the state of Texas (the chemical water treatment business of the former Bob Johnson and Associates from KEMCO Systems) and another (to be released in late Q3 2023) which will further strengthen GWT’s comprehensive coverage in the state of California.
- Continued expansion of senior, field, and operations management teams, with the addition of Kyle Rossi, CWT, Vice President, Southwest Region as well as key hires in functions including Human Resources, Strategy and Business Operations, and Inside Sales.
- Strategic reorganization of leadership structure to provide focus on customer experience, technology, and the support of future growth with the promotions of Patrick Morgan to Chief Sales & Customer Experience Officer, Vince Spaeth to Chief Technical Officer, and Darrel Wynkoop to Vice President, Business Integration.
- Adding two verified service partnerships to ensure comprehensive client services across the continental United States.
- Further aligning and maximizing GWT’s ERP and CRM solution allowing for advanced planning, forecasting, customer engagement, field team coordination, and capturing available efficiencies from production and service performance to invoicing and collections.
- Continued additions to operations and support staff based in South Holland, IL and regional distribution centers, with the addition of many talented individuals to its customer service, accounts receivable/payable, and warehouse/production teams.
- Continued investment in regional field service teams across the country with notable additions of Technicians, Account Managers, and Territory Managers across its United States service region.
More about GWT
Global Water Technology, Inc. is one of the nation’s fastest-growing providers of commercial and industrial water treatment solutions. Founded in 1990 to meet a growing demand for personalized, affordable, and reliable water treatment services, GWT now serves a wide range of customer segments including hospitality, healthcare, manufacturing, commercial office buildings, data centers, food and beverage, as well as new construction clients. GWT’s reputation for superior service and cost-effective solutions for minimizing water consumption and extending the useful life of water systems equipment has propelled GWT from its Chicagoland roots to being a national provider with a presence to-date in more than 30 states.
For more detailed information about GWT, please visit our About Us page.
Patrick Morgan, Chief Sales & Customer Experience Officer
More about Inc. and the Inc. 5000
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
About Inc. Media
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 – November 2 in San Antonio, visit http://conference.inc.com/.