ALEXANDRIA D. HURT, MARKETING COORDINATOR
Lenkbar, LLC Selected as an Honoree of the 2020 GrowFL Florida Companies to Watch.
The Greater Naples Chamber of Commerce would like to congratulate Chamber member Lenkbar, LLC for their selection as an honoree of the 2020 GrowFL Florida Companies to Watch! This statewide competition identifies companies expected to see significant growth over the next several years.
82 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel of independent judges comprised of past honorees, economic development leaders and corporate partners of GrowFL. Companies were judged on a number of criteria including: growth in number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
Led by President and CEO Erik Papenfuss, Lenkbar LLC started operations in 2012 with three employees and an idea: to design and manufacture safe and innovative surgical instruments. Lenkbar, LLC prides themselves on their continuous innovation and contract manufacturing of medical devices. Their success is achieved through diverse manufacturing capabilities, cutting-edge machining practices, along with their own patented designs. Lenkbar’s growing success has facilitated their expansion into a new 20,000 ft2 state-of-the-art facility near the Naples Airport. Lenkbar, LLC was also a winner of the Company to Watch Award at the 2018 Excellence in Industry Awards™ presented by The Greater Naples Chamber of Commerce, which recognize Collier County businesses that exemplify innovation, economic diversification, and community enhancement. The Greater Naples Chamber and the community are thrilled to see this exemplary company continue to grow and be recognized.
GrowFL states that from 2016 through 2019, these companies generated $813 million in revenue and added 668 employees, reflecting a 103% increase in revenue and 113% increase in jobs for the four-year period. That translates into a 27% average annual revenue growth and 20% average annual growth in employees.
Even through the pandemic, these companies projected continued growth in 2020, with a 15% revenue increase and 17% growth in employees compared to 2019. If their projections hold, these companies will have generated $1.14 billion in revenue and added 887 employees over the last five years — a 133% increase in revenue and 150% increase in jobs since 2016.
The companies named to the list will be officially recognized at the 10th Annual GrowFL Florida Companies to Watch Celebration on February 18, 2021 at the Hammock Beach Resort and Spa in Palm Coast, FL.