Press Releases
Inc. Magazine Taps Lonesource's Sunbelt Office Products Among Nation's Fastest Growing Companies
CARY, NC - August 21, 2008 - Sunbelt Office Products has been named to Inc. Magazine's listing of the nation's 5000 fastest growing privately held companies driving the entrepreneurial engine of the U.S. economy. The company was recently acquired by Lonesource Inc., a leader in providing spend management solutions that consolidate, standardize and simplify corporate spending. Sunbelt, based in Atlanta prior to the acquisition, is ranked 2,598 nationally with more than 140 percent revenue growth in the past four years.
"We are pleased to have acquired such a successful company that complements our strategy to serve the market for small offices and mid-sized companies in addition to larger multi-location businesses," said Bradley King, president and chief executive officer of Lonesource Inc. "We are looking forward to the continued success helping drive the growth of our company."
Founded in 1986, Sunbelt was ranked 379 in the 2007 Southeast Inc. 500, a subset of Inc. Magazine's Inc. 5000 list, with revenues of $18 million. Sunbelt credits its success to its expertly-run inside sales model. In the same year, it was ranked 96 in Top Companies in the Atlanta region and 97 in the Top Companies in Retail.
Lonesource Inc. acquired Sunbelt in July 2008. Sunbelt was obtained to bring new services and sales capabilities to reach many small-to-medium size businesses across the country. Sunbelt built a nationwide network of capabilities and a state-of-the-art ordering system which enables the company to deliver more than 30,000 products to businesses anywhere in the United States – usually on the same day they are ordered.
About Lonesource, Inc.
Lonesource Inc. is recognized as the leading provider of spend management solutions that consolidate, standardize and simplify corporate spending. The company offers a hosted, Web-based solution for companies to optimize and manage spending across all corporate departments to increase profitability and dramatically simplify procure-to-pay processes. Founded in 2000, Lonesource is headquartered in Cary, N.C. For more information, visit www.lonesource.com.
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Media Contact:
Brandon Bryce
Largemouth Communications, Inc.
(919) 459-6451
brandon@largemouthpr.com
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