Axenics Named #10 on the10 to Watch List

Three-Year Avg. Growth: 59%

Headquarters: 4 Townsend West, Suite 5, Nashua

Product/Service: Gas and fluid handling systems, contract manufacturing, high purity piping, bending and welding of stainless steel and Teflon pipe

Vice President: Chris Coutis

Founded: 1984

Total Number of Employees: 45

Website: www.axenics.com

Axenics' growth coming out of the recession is impressive-and would be the envy of many other companies-but it's still not the growth it wanted. We're attempting to become a $20 million company, says Vice President Chris Coutis.

It's tackling that goal on a number of levels, including finding savings and pursuing new markets. The company secured ISO-9000 certification, which not only helped attract customers, but tightened our processes and made us more efficient, Coutis says.

Axenics started as RenTec and grew its reputation, and business, in the semiconductor sector in the 80s by installing piping, tubing and other equipment that supplied pure gases and liquids to the manufacturing equipment for chip makers like Digital and IBM. It evolved its business model, changed its name and grew its markets over the years, offering component and subassemblies contract manufacturing and opening a prototyping facility and Teflon division in Massachusetts.

While Axenics serves many Fortune 500 semiconductor companies, that sector has seen a significant slowdown, Coutis says. We're targeting the aerospace industry. The parts made for them are similar to the parts we make already, he says. Axenics also plans to pursue more business in the medical sector and beef up its Teflon division.

The company recently invested in new machinery and hired four employees, including a salesperson dedicated to the aerospace industry. We feel we're headed in the right direction, Coutis says. Our goal is to hit $20 million by 2014.