Marin County's Merrimak Capital makes national fast-growth list for 5th time
Managing leased fleets of equipment, vehicles and other assets around the world has put Novato-based Merrimak Capital Company in a select position among this year’s Inc. 5000 national list of fast-growth firms.
The 28-year-old company ranked No. 3,574 out of 5,000, with 98% three-year revenue growth, completing last year with $166.5 million. That’s up 27.8% from 2017’s $130.3 million. Only 46 companies on the 2019 list had made it back six times, according to Inc.’s directory of winners.
Michael Kariotis, chief operating officer, founded Merrimak in 1991 as an asset-recovery company focusing on the refurbishment, remarketing and recycling of used equipment. The company has expanded to include equipment leasing and accepting foreign currency and equipment returns in the country of origin.
Today, the 40-employee company is led by Mary Kariotis, president and CEO. She joined Merrimak in 1995 and launched its equipment leasing division the following year.
With that transition, she restructured the company as a woman-owned enterprise, certified by Women’s Business Enterprise National Council (WBENC). Merrimak has placed four times the Women President’s Organization list of 50 fastest-growing women-owned companies. And the company is listed among SupplyChainBrain’s list of “100 Great Supply Chain Partners.”
Merrimak is now said to be the industry’s largest full-service independent diverse lessor, providing tier 1 credit for equipment. The company is focused on Fortune 500 companies and similar global markets.
The goal is over $1 billion in original equipment costs under management in its company-owned portfolio no later than 2022.
Merrimak services include equipment leasing, fleet management, asset tracking and resale or recycling. In leasing, the company handles resale of equipment as well as pick-up and return of assets. Merrimak also is certified in destruction of data before resale.
The company has developed a web-based asset tracker that shows what’s happening with equipment and vehicles in real time. The tracking portal is designed to provide easy, expedient equipment returns and evaluations.
Jeff Quackenbush covers wine, construction and real estate. Contact him at email@example.com or 707-521-4256.