Mr. Hernandez says the advertisements will attempt to "position ourselves as the electricity company of choice for Hispanic [companies] and residential customers nationwide. And show that we are the only electricity provider in the country that can actually speak to Hispanic electricity customers in their own language."
Liberty Power raised about $150 million in capital last year to help finance growth.
Compasa LLC, a McAllen, Texas-based wholesale exporter of meat, grain, canned food, and produce, is the only food-related company (No. 9) ranked in the top 20 of the Hispanic Business fastest-growing list. Compasa's five-year revenue grew from $1.26 million to $15.98 million as its workforce climbed from 4 to 15.
The company continues to increase its number of suppliers and customers abroad, and is lining up increasing amounts of credit, says General Director Emeterio Salinas. "This will be a really good year for revenue but 2008 will be even better due to all of the moves we are making now," he says.
Compasa is hiring more employees to open additional sales offices to increase exports to its current markets and add new ones. The company set up an office in Wilmington, North Carolina earlier this year to target Russia, China, and Africa.
Last month, Compasa opened an office in China and plans to set up one in Miami over the next few months to target Latin America and the Caribbean. The company already has six offices in Mexico, which accounts for more than 70 percent of the company's revenue.
The Ventura Group Inc. (No. 61) is one of the few management consulting and professional services firms on the Hispanic Business fastest-growing list. The Ashburn, Virginia-based company's five-year revenue increased from $4.04 million to $13.40 million as its workforce increased from 60 to 113 people.
Phoenix-based Apodaca Wall Systems (No. 7), which provides framing, drywall, and stucco services mainly for commercial construction projects, is one of six companies among the top 10 on the list that offer at least some construction or construction-related services. Apodaca's five-year revenue increased from $750,000 to $16.50 million as its workforce grew from 30 to 460 people.
After a slow first quarter due to the construction industry's overall downturn, Apodaca is back on track to hit its revenue growth goals for 2007, says President Arnold Apodaca, although he declined to specify the goals. This year the company will be wrapping up construction of its largest contract ever – a $2.5 million project in connection with the Biltmore condominiums in Phoenix.
Mr. Apodaca attributes part of the growth to his managers, of whom about 70 percent are relatives, including his father-in-law, brother-in-law, son, son-in-law, daughter, and daughter-in-law. "I release responsibility to them and I trust them," Mr. Apodaca says. "Our goal is to become one of the largest Hispanic contractors in Florida."
Companies are ranked based on percentage revenue growth from 2002 to 2006, based on their IRS report on line 1c of the corporate/partnership tax return. Companies must have had minimum revenues of $200,000 for calendar year 2002. To be eligible for the list, businesses must show at least 51 percent ownership by Hispanic U.S. citizens, and must maintain headquarters in one of the 50 states or Washington, D.C. Nonprofit organizations, advertising and public relations agencies, and companies based in Puerto Rico were not eligible.
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