Wallingford, CT – November 14, 2014 – APS Technology, Inc. today announced it has again earned a spot on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. APS grew 396 percent from 2009 - 2013, placing it 246th on the list. APS was recognized for owning proprietary technology used in oilfield drilling, and for technological innovation, entrepreneurship and rapid growth.
APS President Bill Turner believes the company's growing reputation for highly reliable, innovative systems is the primary impetus for growth. "APS Technology is one of only a handful of companies to be included from the scientific and technical instrumentation sector. This award is a tribute to our highly skilled engineering and technical workforce that keep us a step ahead in the oil and gas drilling marketplace," he said.
"We're excited for this list every year because it's such a great microcosm of the technology landscape in general," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology leader. "Some sectors – like software and Internet – have shown consistent growth over recent years. On the other hand, there are always a few surprises – previously under-represented sectors like clean technology have made considerable progress, while bio-tech continues to make up a large part of the list, which is in line with how strong this industry has been over the last year. Congratulations to all on the list on their continued excellence."
"Investor confidence has been steadily rising in the in the North American region – especially since last year – which translates to an accelerated pace of growth for businesses across sectors," said Jim Atwell, partner, Deloitte & Touche LLP, and national managing partner of the emerging growth company practice. "Interestingly, even companies in sectors requiring more capital intensive spend – such as hardware and semiconductors – which are viewed as the least-favorable sectors by venture capitalists, are growing at rates of more than 1,000 percent."
From 2013 to 2014, APS moved up in the Technology Fast 500™ rankings from 448 to 246. APS has been recognized by the Deloitte Fast 500™ in the last 5 years (2009 – 2013) and again in 2005 and 2006. The company was also recently recognized as one of Connecticut's fastest-growing technology companies by the Connecticut Technology Council's Marcum LLP Tech Top 40. This marks the twelfth consecutive year that APS has won the award (or its predecessor, the Deloitte Fast 50).