2018 was a good year for corporate America as earnings were up. The five fastest-growing companies on the 2018 list of the Top 100 Private Companies in NH are prime examples of the diverse industries driving NH’s economy. Below is a profile of one of the fastest-growing private companies in NH.
From left: Louise J. Elliott, executive VP of sales & operations; Denise A. Jones, president/CEO; and Robert W. Wentworth, vice president. Photo by Christine Carignan.
Three-Year Avg. Annual Growth: 59%
Rank on Private 100: 38
Headquarters: 45G Northwestern Drive, Salem 03079
Product/Service: Distributor of electronic components, batteries and power solutions to the aerospace and defense industries.
President/CEO: Denise A. Jones
Total Number of Employees: 10
Since taking the helm of Port Electronics Corporation in 2014, President and CEO Denise A. Jones and Executive Vice President Louise J. Elliott have taken the 30-year-old aerospace and defense supplier to new heights.
This is the second year in a row that Port Electronics has ranked among the five fastest-growing companies on the Top 100 Private Companies list.
Defense contractors working with the U.S. government are required to have 30 percent of their suppliers defined as economically disadvantaged, which includes women-owned businesses, veteran-owned businesses and service-disabled veteran-owned businesses. Port Electronics falls into six categories, and Jones and Elliott say that this has fueled their growth among aerospace and defense clients.
Elliott adds that many defense and aerospace companies are outsourcing more and more work, thereby expanding the pool of prospects for Port Electronics, which distributes electronic components, batteries and power products.
Jones says the fact that Port Electronics is woman-led is an advantage. Having worked in the defense sector for more than 40 years, she says she’s used to being the only woman or person of color in the room. And Elliott says women tend to be better at multitasking and attention to detail, which the duo says drives much of their recent success.
“We took it from scratch, updated operations and changed our business model. We brought on new people to help grow the business,” Jones says. (Since 2014, the company has grown from two to 10 employees.)
Even better? They anticipate more growth in 2019 as they plan to expand their product lines.