A technology hardware and equipment business in Huntsville is among Forbes’ “small giants” in the magazine’s America’s Best Small Companies list.
Torch Technologies was the only Alabama company to make the inaugural ranking, which includes 25 firms that “have chosen to be great, instead of big.”
“At most companies, proposals for government contracts are handled by senior managers,” Forbes said. “At Torch Technologies, which is 100-percent employee-owned and provides engineering services such as missile-systems modeling and simulation to the U.S. Army, everyone is encouraged to participate.”
The magazine said Torch’s proposal teams vary from one to 50 people who work extra hours to help win contracts ranging from $75,000 to $200 million.
Torch, which has 460 employees and $240 million in revenue, broke ground last spring on an expansion project that included renovating existing structures and building a new headquarters and conference center in south Huntsville.
Forbes used the following criteria when making the list:
- The company has been acknowledged as outstanding by those who know the industry best.
- It has had the opportunity to grow much faster, but its leaders decided to focus on being great rather than just big.
- It has been recognized for its contributions to its community and to society.
- It has maintained its financial health for at least 10 years by having a sound business model, a strong balance sheet and steady profit margins.
- It is privately owned and closely held. It is human-scale, meaning frontline employees have real interaction with top leaders.
- It has both charisma and mojo. When a leader has charisma, you want to follow him or her. When a company has mojo, you want to be connected with it.
January 28, 2016