Wex makes Fortune’s list of fastest-growing public companies

Fortune magazine has named Portland-based Wex Inc. to its 2019 list of the 100 fastest-growing publicly traded companies.

Wex, a payment-processing technology firm, is the only company in Maine to make the list. It is the first appearance for Wex, landing at No. 72.

Companies meeting certain criteria such as trading on a U.S. stock exchange were ranked by revenue growth rate, earnings-per-share growth rate and three-year annualized total return for the period ending June 28, 2019, according to the magazine. Wex achieved growth rates of 22 percent, 37 percent and 33 percent, respectively, it said.

WEX President and CEO Melissa Smith said in a prepared statement that the company has experienced tremendous growth over the past five years, as demonstrated by its recent wins in the marketplace and continued expansion. In March, it opened a new headquarters in downtown Portland.

“It’s an exciting time for us, and this recognition is a testament to the employees who work day in and day out around the world to help us achieve our goals,” Smith said. “Their dedication is what sets Wex apart and will continue to fuel our growth. Our focus on our values and culture has led us here, and we’re very proud of everything we’ve achieved together thus far.”

Wex has about 1,500 employees in Greater Portland and about 4,700 worldwide. The company has generated total revenue of $1.52 billion and net income of $132 million in its most recent four quarters.