Manchester Electronics Company Continues Growth in New Location
May 14, 2010 - EPE Corporation More than Doubles Employee Base, Remains in Manchester
Manchester, NH - A Manchester electronics company, recently ranked New Hampshire's 14thfastest growing business, officially opened its new location near the Manchester-Boston Regional Airport today. Despite the difficult economy, EPE Corporation has experienced rapid growth since 2007, and outgrew its Manchester Millyard location of 26 years. After an 18-month search, EPE found an ideal facility on Manchester's Harvey Road, keeping all of its 185 jobs in Manchester. With the help of Manchester Mayor Ted Gatsas, Aldermen, and Manchester Economic Development officials, EPE officially cut the ribbon on its new 45,000 square-foot facility today, and announced that it expects to create more jobs in the near future.
EPE President and CEO, James Bell Jr. said, "These are very exciting times for EPE Corporation. Not only have we more than doubled our workforce since 2007, but we have every expectation of expanding in the future. This new location meets our needs perfectly, today and into tomorrow."
EPE Corporation is a third generation, veteran-owned provider of complex electronic contract manufacturing services. The firm has partnered with customers in a diverse group of industries including military and defense, medical instrumentation, communications, industrial automation, RF Technology, and the professional consumer market.
A supplier of high-reliability electronic systems, EPE has built a variety of products for the defense, aerospace and homeland security industries that protect American soldiers and civilians. EPE's work in these areas is expected to account for 65% of the company's total 2010 revenue.
Other EPE clients include Salem, NH's Geophysical Survey Systems, Inc., for which EPE built components used in the LifeLocater, a device employed after the earthquake in Haiti to help locate people trapped in rubble; Pocket Wizards, for which EPE makes the entire remote camera trigger that allows users to take photographs from another location; and Flir, for which the company makes the internal electronics for various thermal imaging systems.
Manchester Mayor Ted Gatsas, on hand for today's ribbon-cutting ceremony, said "EPE is a stellar example of what a company can accomplish when it is committed to doing the right thing for its employees and the community. We are thrilled that EPE decided to remain in Manchester, after considering several locations within and outside the city." Gatsas added that Manchester is a vibrant city that works hard to meet the needs of its business community - a perfect location for growing businesses like EPE.
Manchester's Economic Development Director, Jay Minkarah, said "Electronics is one our most important target industries and EPE's expansion goes a long way toward supporting our overall economic development goals. Because of the importance of their growth to the City, we were pleased to able to nominate EPE for the Initiative for a Competitive Inner City's 2010 Inner City 100 award - a list of America's fastest-growing inner city firms, and were thrilled when we were notified that they made the list." The Initiative for a Competitive Inner City is a national non-profit organization founded in 1994 to encourage business development in urban areas.
EPE also received a great deal of assistance from NH-PTAP (NH Procurement Technical Assistance Program). In 2006, the company engaged NH-PTAP's support to expand its involvement with the defense industry. The agency continues that help today with training and other NH-PTAP sponsored events.
Since 2007, EPE has experienced:
o 150% growth in jobs
o 168% revenue increase
o 50% growth in physical capacity (square footage) and
o 40% hike in manufacturing capacity (capital equipment).
o Only a 2% employee turnaround rate annually
o Several clients remaining customers for 10 years or longer.
EPE was selected in September of 2009 as one of Business NH Magazine's 100 Top Private Companies list that highlights the fastest growing private companies in NH based on average sales growth. EPE was number 14 on that list of Top 20 Fastest Growing Businesses in New Hampshire. One of EPE's customers, Cellular Specialties, Inc. was #4. According to the list, EPE is also the fastest growing privately held electronic contract manufacturer in the state.
EPE was also cited on the Initiative for a Competitive Inner City's 2010 Inner City 100 - a list of America's fastest-growing inner city firms. The Initiative for a Competitive Inner City is a national non-profit organization founded in 1994.
"When my grandfather opened our doors in 1965, EPE made a promise to support the needs of each and every one of our customers with integrity and commitment," said James Bell Jr. "Now, more than four decades and three generations later, our promise is reflected in the strength of our partnerships and the success of our customers."
James Bell Jr. is the current president and CEO of EPE Corporation. The business was founded in 1965 by his grandfather, Dudley Bell. James Bell Sr. and his uncle, Tom Bell took over the helm that same year; and James "JD" Bell Jr. assumed leadership this year.
About EPE Corporation
Founded in 1965, EPE Corporation is an ISO9001/AS9100 certified provider of complex electronic contract manufacturing services. EPE is a trusted supplier of high-reliability products and systems for a variety of industries including and defense, aerospace, homeland security, prosumer, and medical instrumentation. http://www.epecorp.com/index.html
Contact:
Deb Daigle
603.644.3200/603.391.7040
ddaigle@montagnecommunications.com
