June 5, 2012 [CHICAGO] – Nitel, a Chicago based provider of nationwide managed telecom services, today announced that for the fourth consecutive year it has been named to Crain’s Chicago Business’ Fast Fifty. The annual list ranks Chicago area companies based on revenue growth over a five-year span.
Nitel’s five year growth of 374% landed them at the number 22 spot on this year’s list.
“We’re extraordinarily proud of our staff for their focus and dedication. Growing profitably and on a consistent basis in these economic times is a major accomplishment,” said CEO Rick Stern. “This year we are making significant strides toward addressing client demand for cloud based services and IT tools to make managing networks easier. These areas will be instrumental to our continued growth.”
Earlier this year Nitel launched its own nationwide IP network, covering over 20,000 zip codes in the top 50 U.S. markets as well as penetration in tier 2, tier 3 and rural markets. The company believes that moving to a facilities-based model allows them the flexibility they will need to achieve the next level of success.
COO Ron Grason commented, “The recent rollout of the Nitel network will be a significant element of our growth strategy. Since we rolled it out earlier this year, customers are already benefiting from additional services like hosted voice and cloud based network security. It’s an exciting time for Nitel, our clients and partners.”
In addition to being honored by the Fast Fifty for the past four years, Nitel has landed spots on the Inc. 500|5000 list of fastest growing private companies in America in 2009, 2010 and 2011.