Press Release August 13, 2014
Cinnaminson, NJ – Inc. Magazine ranked locally owned Parts Life Inc. as number 320 on its 33rd annual Inc. 500|5000, an exclusive ranking of the nation’s fastest growing private companies. Parts Life Inc. was ranked number 20 in top Government Service Companies, number 11 in New Jersey overall and number 7 in the Philly Metro Area. The list represents a comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Many other well-known companies, such as Pandora, Yelp, and Timberland, gained early exposure as members of the Inc. 500|5000.
The 2014 Inc. 5000 was ranked according to percentage revenue growth when comparing years 2010-2013. To qualify, companies must have been founded and generated revenue by March 31, 2010. They also must be US based, privately held, for profit, and independent. No subsidiaries or divisions of other companies as of December 31, 2013 were considered. The minimum revenue requirement for 2010 was $100,000 and for 2013, $2 million. Companies listed on the Inc. 500 represent the top tier of the Inc. 5000. As the most competitive crop in the list’s history, the average company on the list achieved an impressive three-year growth rate of 516 %.
Founded in 2007, Parts Life Inc. provides life cycle sustainment management and supply chain solutions that extend the life of expensive military mission critical assets. Clients include the U.S. Army, Dept. of the Navy, and department of the Air Force as well as the Defense Logistics Agency, prime military contractors, and key players in the automotive, aerospace and construction equipment industries.