This year marks a significant milestone for Maddox Industrial Transformer in Battle Ground.
On August 13, Maddox Industrial Transformer, which has a branch in Battle Ground, was ranked among the nation’s fastest-growing companies for the sixth consecutive year, securing the No. 556 spot on the 2024 Inc. 5000 list. Inc. 5000 is a nationally recognized entity that lists the top 5,000 companies with the most financial growth annually. This year’s list highlights the top 5,000 companies in the country based on percentage of revenue growth from 2020 to 2023.
Additionally, Maddox has been selected as a finalist for the Greater Vancouver Chamber’s 2024 Business & Leadership Awards. The awards ceremony will be streamed live on Facebook at 5 p.m. Oct. 10 at 5 p.m.
Founded in 2015, Maddox began its journey in Greenville, South Carolina. The company was established by CEO Camden Spiller, his brother and Vice President of Sales and Marketing Mac Spiller and a team of industry veterans who identified a critical gap in the market. They took over an old transformer shop, focusing on reconditioning transformers to meet the growing demand driven by industry shortages.
Though the company keeps a stock of new transformers, it quickly set itself apart from the rest of the transformer industry by repairing and reconditioning old units. Mac Spiller explained that the company’s approach played a crucial role in its success.
“Things really took off in 2020 when all the COVID-related lockdowns brought the transformer industry to a screeching halt,” Mac Spiller said. “Our specialty is keeping new transformers in stock and reconditioning old transformers. There’s really been a huge need for transformers in the last decade, and we’ve been filling that need pretty well. That’s really why we’ve been able to grow so quickly.”
Shipping its transformers internationally, Maddox expanded its operations to Battle Ground in 2018 to serve its West Coast customers. The Battle Ground site currently employs 50 employees. Mac Spiller said the Greater Vancouver Chamber’s nomination is an honor as it highlights the company’s local investment.
“Clark County has been a great place to do business. There’s a great hiring pool here. One thing we’re really invested in is the community … My wife grew up here. Our family’s here. Our friends are here. Our community’s here. We’re really trying to do everything we can to make a big impact on the area and the lives of our employees here.”
For Mac Spiller, this year’s Inc. 5000 ranking at No. 556 underscores Maddox’s growth in an otherwise aging industry. With a three-year revenue growth of 798%, Maddox has distinguished itself from other old tech companies. Mac Spiller noted most companies listed are tech startups or are in real estate and rarely focus on old tech.
“I think it’s really meaningful to us and our people because it just shows what our people have been able to do,” he said. “The key to our growth is really our people. We just have awesome people in South Carolina, Idaho, Texas, Washington and Ohio. I think it’s really exciting for everybody to see how quickly we’re growing, especially in an old industry because most companies on the Inc. 500 are tech startups.”
Looking to the future, Maddox plans further expansion, including locally. The Battle Ground site is set for an upgrade, with plans to hire 20 additional employees in roles including sales, customer service and accounting once the building expansion is completed.
Readers can learn more about the upcoming Greater Vancouver Chamber ceremony at vancouverusa.com/business-leadership-awards.
