Smith joins the list of fastest-growing private companies in the United States
HOUSTON, Aug. 15, 2023 /PRNewswire-PRWeb/ -- Smith, a leading independent distributor of electronic components and semiconductors, today announces that it has been named to the 2023 Inc. 5000 list of fastest-growing private companies. This ranking was based on percent growth for revenue from 2019 to 2022. Smith's revenue grew nearly 250 percent in that time frame, from USD $1.35 billion in 2019 to $4.7 billion in 2022. This is Smith's second year in a row to be featured on the list.
"The semiconductor industry is swiftly moving into a new phase of supply chain management strategies, and Smith's dynamic and flexible solutions have allowed us to continue on our long-term growth trajectory," said Marc Barnhill, Chief Executive Officer at Smith. "We are honored to once again be included on the Inc. 5000 list, recognizing our ability to adapt and evolve to provide our global customers with expert support for any market condition."
The company rose more than 2,000 spots above last year's ranking to number 2,267 on the list. This year, Smith ranked fifth among computer-hardware companies and number 41 among private companies in the greater Houston area. Across Texas, the company ranked number 220.
As the widespread semiconductor shortages of the last two years have winded down, Smith has ramped up its expansion efforts, opening new sales offices in London and Tokyo and a new distribution hub in Singapore. The company also relocated or expanded its existing sales offices in Guadalajara, Hong Kong, Shenzhen, Cluj-Napoca, and Berlin.
"New technology is emerging and advancing at a faster pace than ever before, requiring more components to power these innovations," said Marc. "Utilizing our decades of historical data, global market outlook, and skilled commodity expertise, we are ready to meet this growing demand and set up our customers for success as we prepare for the next inevitable market shift."
About Smith
Founded in 1984, Smith sources, manages, and distributes the electronic components that go into everything from mobile phones and computers to appliances and automobiles. In 20 cities around the world, Smith's legion of employees communicates in 50 languages and dialects and buys and sells components 24 hours per day, generating global annual sales in excess of $4.7 billion in 2022. Smith is always moving: helping manufacturers navigate market shifts; customizing supply chain solutions; testing components using cutting-edge technology. The support of Smith's flexible Intelligent Distribution™ model optimizes customers' supply chains from beginning to end, including offering customized options for IT asset disposition that deliver maximum ROI, sustainability, and security. Smith's testing and logistics hubs in Houston, Hong Kong, Amsterdam, and Singapore cover critical areas like quality management, counterfeit prevention, and environmental safety. Smith's operations, purchasing, and sales worldwide are seamlessly integrated with the company's global IT infrastructure, offering real-time, global inventory and logistics visibility. Smith is the leading independent distributor of electronic components and ranks number six among all global distributors. For more information, please visit http://www.smithweb.com or reach out to a Smith representative any time of day at +1 713.430.3000.
Media Contact
Rich Witmer, Smith, 7134302141, [email protected], http://www.smithweb.com/
SOURCE Smith
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