Wednesday, 20 August 2014

Lenco Marine Named 2014 Florida Companies to Watch Winner

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Richard DeVito, President, Lenco Marine (left), Tom Broy, President, IBBI (right), Photo Courtesey of: Independent Boat Builders, Inc.

Stuart, FL; Lenco Marine, Inc. is proud to be selected as one of fifty leading second-stage companies selected from more than 500 nominations statewide, as this year’s Florida Companies to WatchSM winners. All 2014 winners will join an esteemed group of 150 Florida alumni honored over the past three years.

Lenco Marine was nominated, along with 150 other second-stage companies, and submitted to an initial questionnaire based on company strengths. After this initial essay, Lenco Marine was selected as a First Round Finalist and submitted to another round of questions. Winners will be announced in late August with the awards ceremony being held October 23, 2014 at the Hard Rock Live in Orlando.

Florida Companies to Watch is an awards program that celebrates privately held second-stage companies headquartered in the state. To be eligible, applicants must employ between 6 and 99 full-time equivalent employees and have between $750,000 and $50 million in annual revenue or working capital in place. Awardees are selected for demonstrating the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage, outstanding corporate culture, inspired community giving and other notable strengths.

Florida Companies to Watch is honored to recognize another outstanding group of stage-two companies,” said Dr. Tom O’Neal, executive director of the Florida Economic Gardening Institute and associate vice president for the University of Central Florida’s Office of Research and Commercialization. This is our fourth year of celebrating second-stage business leaders throughout the state of Florida. The companies selected for the Florida Companies to Watch awards program stand out among their peers as companies that should be celebrated. In Florida, they account for 5 percent of the companies and nearly 30 percent of the jobs. These companies make a difference and we’re happy to offer the recognition they deserve.”

“We are extremely honored to have been awarded as a Florida Company to Watch Winner. Our goal is simply to provide the best product every single day for each and every one of our customers. The dedication our team has to the marine industry is no doubt the key to our success,” said Richard DeVito, President, Lenco Marine.

Florida Companies to Watch is unique because of its focus on second-stage companies and the wide-ranging industries they represent. The impact of these companies on Florida’s economy is immense, and this year’s honorees are examples of such companies in the state. Overall, the 2014 winners had $370 million in total annual revenue in 2013, which was a 36 percent increase in total annual revenue compared to 2012. They employed 1,757 full-time equivalent employees, with 462 net new jobs projected for 2014.

2014 Sponsors include Wells Fargo, TWSquared, University of Central Florida, Florida High Tech Corridor, atLarge, Inc., Carlton Fields Jorden Burt, Filmscape, OUC, AMTIS Inc., Enterprise Florida, Fifth Third Bank, Florida Power & Light, Insperity, LSQ Funding, Sorensen Moving & Storage, SunTrust, USF Connect. For more details on Florida Companies to Watch, visit or email This email address is being protected from spambots. You need JavaScript enabled to view it. . Sponsorships for the 2014 event are still available.

About Lenco Marine
Founded in 1986, Lenco Marine, Inc. manufactures trim tabs, electric actuators, hatch lifts, switches and the all new Auto Glide Boat Leveling System. More information about Lenco is available at: more information, please contact Katie Githiomi at This email address is being protected from spambots. You need JavaScript enabled to view it. ,, 772-288-2662

About About GrowFL
GrowFL was created in 2009 by the Florida legislature as an economic development program focused on assisting second-stage growth companies prosper in the state of Florida. By providing strategies, resources and support to second-stage companies for next level growth through Strategic Research and peer-to-peer CEO mentoring, GrowFL helps companies overcome obstacles to growth and leads them towards prosperity. Based on the philosophy of Economic Gardening®—to grow existing businesses in a community, region or state—GrowFL, the Florida Economic Gardening Institute, is a critical component to the state’s economic development strategy and Florida’s entrepreneurial ecosystem. GrowFL is a statewide economic development organization certified by the National Center for Economic Gardening through the Edward Lowe Foundation. Website:

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