MINNEAPOLIS, MN (October 19, 2012) – For the fourth straight year, Burnsville-based Pawn America has been named a recipient of the Business Journal Fast 50 Award, signifying the company as one of the fastest growing private companies in the Twin Cities metro area.
The Fast 50 Award is an annual publication of The Business Journal, a leading authority on area business news. At an awards ceremony in Minneapolis, Pawn America grabbed the 50th spot on the list, which isn’t an easy feat, especially considering the company’s level of revenue when compared to a majority of the other award recipients.
“It was definitely tougher to get on the Fast 50 list this year,” says Kim Johnson, Assistant Managing Editor of the Minneapolis/St. Paul Business Journal.
Pawn America reported just over 72 million in revenue for 2011 and has averaged a growth rate of more than 55 percent over the past three years. A three-year growth rate (2009-2011) is what the Business Journal uses to rank the award recipients.
“We are certainly proud of the Fast 50 honor, and more specifically that we’ve continued to grow at such a steady pace,” says Brad Rixmann, President and Owner of Pawn America. “To make this prestigious list four years in a row as a second-hand retailer is proof that the word is getting out. From consumers to the communities, from law enforcement to the law makers… the value in second-hand retailing and re-use practices is increasingly embraced.”
The entire ranking and profiles of the winning companies, including Pawn America, are included in the October 19 print edition of the Minneapolis-St. Paul Business Journal. Additional information can be accessed via the Business Journal’s website.
To qualify for the “Fast 50”, submitted companies have to be independently owned, privately held and based in the Twin Cities nine-county metro area. The companies must have at least $1 million in revenue while showing continuous growth in the last three years.
Receiving the Top 50 Growth Award for Pawn America are from left to right: Michael Deering, Vernon Stading, Karl Hattman, Chuck Armstrong, and Daron Van Helden