A number of Valley-area companies have enjoyed significant growth in the last three years, and this special report takes a look at some of the local private companies that have grown the fastest.
Liberty Company Insurance Brokers is the No. 1 firm on the Business Journal’s Fastest Growing Companies list for the second year in a row. (The List begins on page 12.) The Woodland Hills company posted just over $149 million in revenue last year and boasts a 268% growth rate from 2020 to 2022.
Other companies that are near the top of the list again include Burbank-based Blu Digital Group, Valencia Pipe Co. Inc. and La Canada-based Allen Lund Co. LLC. Blu Digital Group’s revenue has grown quickly and steadily; the company reported a 127% increase from 2020 to 2022, which is the span of time used in this special report. Allen Lund posted 101% revenue growth in that time, while Valencia Pipe Co. experienced a 79% increase in earnings.
Liberty is choosing to intentionally slow down its expansion, specifically by limiting its number of acquisitions: the company closed 73 mergers and acquisitions between 2021 and last year, but only three so far this year. This report looks at why Liberty is adjusting its growth rate and what might make a thriving company take a step back to evaluate and optimize its operations.