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MaeTec Power Inc. is marking its 10th anniversary with annual revenues exceeding $10 million and more than 30 employees.
The Perinton company is the brainchild of Mark Miller, who launched it in early 2003 as a part-time venture selling used telecommunications equipment. It was incorporated in March 2003 and became a full-time occupation.
Miller is company president. James Allen joined some 12 months after its formation as co-owner and vice president.
MaeTec sells, services and installs direct current power to telecom, data center, utility and commercial customers nationwide. DC power involves electrical currents that flow in one direction. Alternating currents, known as AC, reverse their direction in a circuit at regular intervals.
The company recently moved across the parking lot to a warehouse at 400 Mason Road that it purchased last November.
"From a business perspective, we're still focused on the same customer base," Miller said. "We've increased the number of customers we're supporting within those industries. ... We've obviously grown in size with revenue and the number of employees."
Miller and Allen said they have increased the company's local customer base in recent years, though they declined to provide details.
"We are successfully growing our customer base within strategic geographical clusters around the country as well," Allen said.
MaeTec employed nine people full time in 2007, generating $2 million in annual revenues. The objectives then were $5 million in sales in two years, $10 million in five.
Miller did not disclose financial details or specifically confirm that those goals had been reached, but he did say, "We're above eight figures."
MaeTec has more than tripled its employment in the last six years.
"We're somewhere around 30 to 35 now," Miller said, including Business Development Director Gary Boone and four other people at Mason Road and two who work from home in the Rochester area.
"We have six technicians that we've hired that live in Rochester but travel," Miller said.
MaeTec expanded its presence to 160 cities in 40 states with a five-year, $17.5 million Federal Aviation Administration contract in August 2009.
The FAA work-the firm's first large-scale government contract-called for the replacement of battery strings at 25 air traffic control sites and resulted in MaeTec doubling its workforce to nine people. Revenues also doubled.
MaeTec secured a $600,000 contract with the FAA in January 2010 and was part of a five-year, $8 million FAA contract awarded in the first half 2011.
The 2011 contract entails battery installation for shipping, recycling and disposal services at 2,200 General National Air Space facilities in Alaska, Hawaii, Puerto Rico and Guam, Boone said.
"When we first were awarded those FAA contracts, the concern was that it was going to become a significant percentage of our business," Miller said. "When you get a contract of that size that becomes that large an amount of revenue, it becomes your flagship customer.
"If in five years that customer goes away, what are you going to do to maintain what you've accomplished or grown to support over those five years? That was a big concern from day one. We've worked hard to make sure we're putting other new customers in our portfolio that will not only grow revenue today but would be there if we didn't renew this contract."
The FAA work accounts for less than 25 percent of MaeTec's business, Miller said.
"We've done a good job of delivering on that contract but also bringing in other customers and other business that keeps us from being completely dependent upon that contract," he said.
He does not expect the company's business plan to change.
"Our plan is to maintain the growth pattern we've had over the last six or seven years," Miller said. "As long as we continue to support our customers the way we have in the past, I don't see any reason why we can't sustain that."
MaeTec Power Inc.
DC power services.
2012 ranking: 30
Top executive: Mark Miller
5/10/13 (c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email email@example.com.