Mount Pleasant firm wins award for state’s fastest-growing business

Mount Pleasant-based Direct Source Imports LLC was named South Carolina’s fastest-growing company for 2009 at last week’s S.C. Chamber of Commerce annual summit.

Direct Source Imports, which sells wood products used in the construction industry, saw revenue grow 225% in 2008. The company was founded in 2006.

South Carolina’s Fastest-Growing Companies 2009 recognizes 25 companies statewide for exceptional performance in revenue and employment growth. Direct Source was among six Lowcountry businesses named to the list. The awards are co-sponsored by The Capital Corp. investment banking firm and the S.C. Chamber of Commerce.

Arnold Construction Corp. of Columbia, a commercial and multifamily general contractor and design-build firm, came in second place with a 153% increase in revenue.

Liberty-based TSP, a manufacturer and distributor of irrigation products, turf equipment and pumping systems, took third place with 133% revenue growth.

Nominations for South Carolina’s Fastest Growing Companies 2009 were accepted between June and August. Participation was open to public and private nongovernmental entities in any business or industry sector that have headquarters in South Carolina. Nominees must have been in operation for at least two full fiscal years and have revenue of at least $3 million (or $50 million in assets for financial institutions) in the most recent fiscal year.

Fifteen of the 25 winning companies reported annual revenues exceeding $10 million. The median revenue for all finalists was $10.9 million.

Rankings are based on a weighted equation factoring in growth in revenues and increases in full-time employment.

South Carolina’s Fastest-Growing Companies 2009, Final Rankings