Confluence Garners Third in "Fast 50" Biz Journal Awards

Confluence Watersports Co. received recognition as the third-fastest growing company in the Triad area of North Carolina in this year's Business Journal (www.triad.bcentral.com) "Fast 50" competition, published as a special insert in the Oct.12-18 edition.
Author:
Publish date:

Confluence Watersports Co. received recognition as the third-fastest
growing company in the Triad area of North Carolina in this year's
Business Journal (www.triad.bcentral.com) "Fast 50" competition,
published as a special insert in the Oct.12-18 edition.

According to Doug Copeland, publisher and president of the Business
Journal, nominees had to be independent and privately held companies,
have revenues of at least $3 million in 2000, and have completed three
full fiscal years of operation. Once firms met those criteria, their
revenue growth rate was evaluated and ranked by the accounting firm,
BDO Seidman.

The article honoring Confluence reported the company's 2000 revenues as
$27 million with 215 employees located in the Triad headquarters and
another 17 employees in three offices outside of the Triad region.

"We were the only ones at the award ceremony not wearing a coat and
tie," says Bill Medlin, Confluence CEO and president, who also told
SNEWS® it was "a different kind of culture for us to see, and, in many
ways, I'm sure the other company execs felt the same about us."

Medlin added that the good times just continue to roll for Confluence.

"We are within a whisker of being at the same production levels we were
at last year -- about 96 percent of capacity with the last available
oven into play," says Medlin.

"We have been very, very pleased. Whitewater has simply gone bananas.
We have shipped three times as many orders this year as we did last.
Retailers hopped on product at the show, took earlier orders, and now
are refilling.

"Internationally, we just received another container order from Japan, and we have shipped two already.

"Northeast sales for us are up over last year and that's a pleasant
surprise. In Florida, paddlesport sales are up 47 percent for as well."

Medlin says the market isn't growing that much really. In fact, he told
SNEWS® he believes the paddlesport market is still somewhat flat and
that Confluence's sales increase has come at the expense of other
suppliers.

Related

Confluence continues to paddle rough water

Confluence Watersports was forced to eliminate 71 positions on April 19, resulting in 69 layoffs. Of the two who were not laid off, one was a company controller who was let go in January and the company has decided not to fill the position. The other, Keith Wallace, was the ...read more

Confluence Lays off 18 percent of Staff

Confluence Watersports Company has laid off 48 employees in its North Carolina facility and 7 employees in Vermont, Andy Zimmerman, CEO of the Trinity, North Carolina-based company, confirmed with SNEWS on March 29. That leaves 250 employees.Zimmerman insists that despite rumors ...read more

Confluence_BombGear_Thumb.jpg

Confluence Watersports acquires Bomber Gear

In what marks the first acquisition Confluence Watersports has made since Sue Rechner took the helm as CEO on Dec. 17, 2007, the company has announced the purchase of Bomber Gear. Terms of the deal were not disclosed.Bomber Gear, originally founded in Durango, Colo. in 1992, is ...read more

Medlin ousted at Confluence

Bill Medlin is no longer the CEO of Confluence Watersports following a 4 p.m. decision Monday to oust him. This decision comes only five days after Confluence was forced by the company's new majority owner, American Capital Strategies (ACS), to eliminate approximately 30 percent ...read more