February 2024 – Croixstone

Croixstone is named to Inc. Magazine’s List of the Mid-Atlantic Region’s Fastest-Growing Private Companies

We Did It Again: We are celebrating some big news today! For the second consecutive year, Croixstone was named to the Inc. 5000 Regionals: Mid-Atlantic list as one of the region’s fastest-growing private companies.

Our Ranking: Croixstone is ranked at #83 on this year’s annual list of the fastest-growing private companies based in the District of Columbia, Delaware, Maryland, North Carolina, Virginia, and West Virginia. The 2024 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2020 and 2022.

“We are thrilled to land on the Inc. 5000 Regionals list for the second consecutive year,” said Patti Weber, Croixstone’s Chief Executive Officer. “This achievement is fueled by the passion of our employees and consultants to fulfill Croixstone’s vision to lead in the delivery of professional services that transform careers and businesses.”

Learn More About the Inc. 5000 Regionals: Complete results of the Inc. 5000 Regionals: Mid-Atlantic list can be found at inc.com/regionals/mid-atlantic.

Read Our Press Release: Click here.

Social Venture Partners Charlotte wins CATALYST 2023 Fire Award

Snapshot: Last week one of the most unique nonprofit organizations in Croixstone’s home city of Charlotte, NC scored a big, high-profile win. Social Venture Partners Charlotte (SVP Charlotte) was honored to win the Charlotte Business Journal’s 2024 CATALYST Fire Award.

What are the Fire Awards? The annual Fire Awards program honors the people, companies and organizations that keep the Charlotte area’s innovation ecosystem going. SVP Charlotte was one of 24 organizations or people nominated across 6 categories for blazing a trail in Charlotte’s innovation ecosystem.

Who is SVP Charlotte? SVP Charlotte is a nonprofit organization that passionately attacks social and economic inequality across the Charlotte region through venture philanthropy. Croixstone’s co-founders, Patti Weber and Mark Weber, are long-term Partners (volunteers) with SVP Charlotte. Additionally, Mark served on SVP Charlotte’s board for 4 years and served as Lead Partner for the organization’s annual SEED20 pitch program.

Who are the fellow Fire Award winners? SVP Charlotte is one of six blazers honored at last week’s innovation awards. As the winner in the “Catalyst” category, SVP Charlotte joins the following innovation blazers:

Energy: Atom Power
Fintech: Passport
Health Care: Premier Inc.
Innovation: RXO Inc.
Software/AI: PetScreening

Learn more: SVP Charlotte is seeking Partners and Corporate Sponsors to help broaden and deepen the organization’s impact across the greater Charlotte, NC region. Click here to learn more about the SVP Charlotte story.

The Sizzling Middle Market

Croixstone and the Middle Market. As a boutique management consulting and executive search firm, Croixstone serves a national portfolio of clients of all sizes. That said, Croixstone dedicates significant time and expertise in serving Middle Market clients.

What is the Middle Market? As defined by the experts at the National Center for the Middle Market (NCMM), the U.S. Middle Market is comprised of companies with annual revenues between $10 million and $1 billion. While the Middle Market represents 200,000 businesses (or 3% of all U.S.companies), it accounts for a whopping one-third of private sector GDP and jobs.

What’s happening in the Middle Market? As published in the NCMM’s “Year-End 2023 Middle Market Indicator Report”, the U.S. Middle Market is flourishing in the post-COVID era. The rate of year-over-year revenue growth in 2023 reached an all-time high (12.4%) with 55% of Middle Market companies reporting double-digit growth compared to 2022. The majority of Middle Market companies grew employment, however, the overall rate of year-over-year employment growth slowed.

What are the fastest-growing Middle Market companies doing to drive performance? According to the NCMM, the fast growers are expanding through innovation and entry into new markets. Additionally, they are actively investing in technology and people. These pacesetters tend to demonstrate a greater interest in digitization and AI. They also report a higher average increase in wages for their workforces compared to slower-growing companies.

Learn more. The NCMM provides knowledge, leadership, and innovative research on the U.S. Middle Market. Housed at The Ohio State University Fisher College of Business, NCMM is a collaboration between the University, Chubb, and Visa. Click here to learn more about the NCMM and to review the “Year-End 2023 Middle Market Indicator Report”.