ROMEOVILLE, Ill and PALM SPRINGS, Calif. - Inc. Magazine has recognized Laser Products Industries (LPI) on its 36th annual Inc. 5000 list of the nation's fastest-growing private companies. LPI is the third fastest growing private manufacturer in Illinois on the list with a three year sales growth of 122 percent.
To qualify for the Inc. 5000 list, companies must be U.S.-based, privately held, for profit, and independent, i.e., not subsidiaries or divisions of other companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment - its independent small and midsized businesses.
"The Inc. 5000 is the most persuasive evidence I know that the American dream is still alive," says Inc. president and editor-in-chief, Eric Schurenberg. "The founders and CEOs of the Inc. 5000 tell us they think determination, risk taking, and vision were the keys to their success, and I believe them."
Laser Products manufactures laser measuring equipment that has won worldwide recognition for innovation and quality for the countertop, cabinet, and woodworking industries. It has sold over 5,000 systems in 35 countries to more than 2,600 companies. Founded in 1994 by Dan Louis, Laser Products currently has 34 employees.
"Being selected for the Inc. 5000 is an exciting achievement," said Rich Katzmann, president of LPI. "It shows that our business decisions have been good ones. We are seeing strong, consistent growth that I know will continue for the foreseeable future. We are entering new markets, forging new partnerships, and have a long list of new products in development. I expect to be a returning company on the Inc. 5000 list for a very long time."
Laser Products will be honored at the 10th anniversary educational conference in Palm Springs, California on Oct, 10-12 where speakers will include some of the what the company says are the greatest entrepreneurs over the decades.