For the Fifth Time, Sandy-based Spectra Benefits, Now a Division of HUB International, listed on Inc. Magazine’s Annual List of America’s Fastest-Growing Private Companies

Inc. magazine today revealed that Spectra Benefits, a Division of HUB International, is No. 3295 on its annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.

“Now that Spectra is a part of HUB International, it feels great to be recognized one last time as one of America’s fastest-growing companies,” said R. Brent Bennett, Executive Vice President and Utah Market Leader for Spectra Benefits, now a division of HUB International. “Our way of doing business has always centered around a stellar client service experience, and this emphasis has paid dividends as we move into the future of our company and our industry.”

Not only have the companies on the 2018 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists. The 2018 Inc. 5000 achieved an astounding three-year average growth of 538.2 percent, and a median rate of 171.8 percent. The Inc. 5000’s aggregate revenue was $206.1 billion in 2017, accounting for 664,095 jobs over the past three years.

“If your company is on the Inc. 5000, it’s unparalleled recognition of your years of hard work and sacrifice,” says Inc. editor in chief James Ledbetter. “The lines of business may come and go, or come and stay. What doesn’t change is the way entrepreneurs create and accelerate the forces that shape our lives.”

Spectra Benefits specializes in helping businesses craft a competitive, cost-effective employee benefits package consistent with a company’s culture and long-term goals. In 2018, Spectra Benefits was acquired by HUB International Limited, the sixth largest insurance brokerage in the world. This transition enabled Spectra to expand its portfolio of products and provide clients with a broader spectrum of services and support.

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More about Inc. and the Inc. 5000

Methodology

The 2018 Inc. 5000 is ranked according to percentage revenue growth when comparing 2014 and 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2017. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2014 is $100,000; the minimum for 2017 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

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