Organizations honored for growth, innovation at PBN’s Fastest Growing & Innovative Companies ceremony

PROVIDENCE BUSINESS NEWS Editor Michael Mello, right, addresses the crowd Thursday during PBN's Fastest Growing & Innovative Companies Awards ceremony at the Graduate Providence. / PBN PHOTO/MIKE SKORSKI
PROVIDENCE BUSINESS NEWS Editor Michael Mello, right, addresses the crowd Thursday during PBN's Fastest Growing & Innovative Companies Awards ceremony at the Graduate Providence. / PBN PHOTO/MIKE SKORSKI

PROVIDENCE – A financial institution, a construction management company, an addiction recovery organization and an insurance agency were recognized Thursday as the top earners in Providence Business News 2022 Fastest Growing & Innovative Companies Awards program.

About 225 people attended Thursday’s ceremony held at the Graduate Providence. The 2022 program honored 30 total companies and organizations based on their revenue growth over a three-year period between 2019 and 2021, and for their innovative products and initiatives to potentially help their industries for the future.

Westerly-based Lathrop Insurance Agency Inc. had the highest revenue growth in the $250,000 to $5 million category at 164.2%. Adcare Rhode Island Inc. in North Kingstown had a 71.4% revenue growth from 2019 to 2021 in the $5 million to $25 million category. Middletown-based J2 Construct Inc. – a repeat winner from last year’s program – had a revenue growth of 109.5% in the $25 million to $75 million. BayCoast Bank in Swansea had the top revenue growth in the $75 million and over category at 30.2%.

Each company and organization will be profiled in a special section that will be published Friday as part of the Sept. 30-Oct. 13 print edition of PBN.

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The 2022 Fastest Growing Companies, listed in order of revenue growth percentage in groups based on 2021 revenue, are:

$250,000 to $5 million

  • Lathrop Insurance Agency Inc.
  • Integrated Media Group
  • Thompson Insurance Group
  • O’Neill Consulting Group Inc.
  • IT Support RI

$5 million to $25 million

  • Adcare Rhode Island Inc.
  • Available Staffing Network LLC
  • Pranzi Catering and Events Inc.
  • Catalano Construction Inc.
  • Brave River Solutions Inc.

$25 million to $75 million

  • J2 Construct Inc.
  • Acertitude Inc.
  • John Matouk & Co.
  • Purvis Systems Inc.
  • Greenwood Credit Union

$75 million and above

  • BayCoast Bank
  • SEACORP LLC
  • Blount Fine Foods Corp.
  • Lafrance Hospitality Corp.
  • Charcuterie Artisans

The 2022 Innovation winners, listed alphabetically by category, are:

  • Architecture, Construction & Engineering: Gilbane Inc.
  • Energy & The Environment: E2SOL LLC
  • Food, Beverage & Agriculture: Blount Fine Foods Corp.
  • Government: R.I. Turnpike and Bridge Authority
  • Health & Wellness: First Circle Inc. (Chewsi RI)
  • Innovative Collaboration: Rhode Island CEO Council
  • Manufacturing: U.S. Extruders Inc.
  • Nonprofit: DESIGNxRI
  • Technology: FlorLink Inc., Flux Marine Ltd. and NVTS Night Vision Technology Solutions Inc.

CBIZ & MHM was the presenting sponsor for the 2022 PBN Fastest Growing & Innovative Companies Awards program. Cox Business and Gallo|Thomas Insurance were the partner sponsors.

James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.

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