Maddox Industrial Transformer Ascends the Annual Inc. 5000 List

Greenville, SC – On August 13, 2024, Inc. unveiled that Maddox Industrial Transformer has risen to position No. 556 on the Inc. 5000 annual list, which ranks the fastest-growing private enterprises in America. Since 2019, when it achieved rank No. 283 and gained a spot on the esteemed Inc. 500 list, Maddox has consistently featured on this list. This year, Maddox Industrial Transformer emerged as the 10th fastest-growing firm in the energy sector with its revenue growth over three years escalating at a swift pace of 798 percent.

About Maddox

Founded in 2015, Maddox has rapidly expanded from a single location in Greenville, South Carolina to operating four shops and fulfillment yards across the nation. As a market frontrunner in the supply of new and reconditioned electrical transformers (inclusive of substations, polemounts, dry-types, and padmounts), Maddox caters to customers across all 50 U.S. states, as well as in Canada and Mexico.

The Transformer Market Scenario

Currently, the United States is grappling with elongated lead times from a few months to even years for transformers, caused by an increased demand and major shortages. This has resulted in significant supply chain delays countrywide. Through its inventory of the best transformers, reconditioning of old units, and new stock, Maddox is navigating these challenges to provide customers with the best service.

A Word from the CEO, Camden Spiller

The CEO of Maddox Industrial Transformer, Camden Spiller, expressed his delight on making it to the Inc. 5000 list for a sixth consecutive year, attributing this success to their loyal customers and partners’ continued business. He also recognized the tireless efforts of his team members.

Spiller said, “Over the last three years, we have made significant investments in expanding our inventory, developing our infrastructure, and hiring the best talent in the industry. These efforts have yielded fruitful results, and we are committed to providing excellent customer service, quick lead times, and an unbeatable supply of transformers.”

Media Contact

For additional information, please contact Miles Whitling at miles@maddox.com or call 208-417-0576.

About Inc. and the Inc. 5000

The 2024 Inc. 5000 class represents companies that have achieved rapid revenue growth while simultaneously dealing with the challenges inherent in maintaining a business, such as inflation, high costs of capital, and inevitable hiring difficulties. This year’s Inc. 5000 companies have notably contributed an impressive 874,458 jobs to the economy in the last three years.

Methodology

Companies on the 2024 Inc. 5000 are ranked according to their percent revenue growth from 2020 to 2023. To qualify, they must have been generating revenue by March 31, 2020, be U.S.-based, privately held, for-profit, and independent entities as of December 31, 2023.