Vector Heating, Cooling, Plumbing & Electrical Ranks in the INC. 5,000
Key Highlights
- Vector has grown to 40 employees, 30 vans, and achieved impressive revenue growth, ranking 1,782 on the INC. 5000 list
- The company maintains a hands-on approach, with team members personally answering emergency calls, even late at night
- Strategic branding efforts, including a bold rebrand of trucks and online assets, have contributed to their rapid growth
TWIN CITIES, MN — Up until December 2023, the 11-year-old independently owned HVAC, plumbing and electrical company, Vector, didn’t even have a formal office. What it does have today are 40 passionate employees, 30 vans, no debt or credit lines, and impressive revenue growth that doubled in the past two years—enough to earn the 1,782 position on the annual national INC. 5000 rankings.
Team Effort
Still personally answering emergency service calls—even at 2 in the morning—Vector’s tireless management-owner team of Karen Balko (Chief Operations Officer), Tom Balko (Chief Dream Builder) and Mark Goetz (Leader of Development) praised its team of service technicians and its marketing and branding partners, while vowing to hold to its bold strategy to grow steadily at 30% annually in subsequent years.
“We’re thrilled with our first placement on the INC. 5000 list,” exclaimed Karen Balko. “But we owe much of our fast-growth success to our skilled and hard working service techs and our marketing partner CAMP Digital that helps us navigate the challenges of online marketing to keep our callboard full and to KickCharge Creative, the company that inspired and encouraged us to do a bold rebrand of all our trucks, advertising and online assets!”
Smart Growth Strategy
Tom Balko likewise saluted the company’s growing workforce and assessed the current competitive environment. “Vector’s dedicated employees know what we’re up against, but this award is a kind of vindication for us all as PE firms continue to acquire smaller companies like ours. When that happens, they skew service and advertising rates, making it tougher for the little guy. But I always tell our people that we don’t have to answer to a large board or a big pool of investors. We don’t have to focus totally on numbers all the time, because we can provide a family-owned kind of personalized service and value because that’s who we are. We’ll continue to grow if we keep hitting singles because it brings in the runs—and it maintains the good that we strive to offer.”
“We will definitely leverage the INC. 5000 recognition to keep growing the commercial and residential businesses,” notes Mark Goetz, whose expertise in large commercial projects has taken Vector to new heights, leading the charge in executing over 350 HVAC rooftop replacements across Minnesota. “The culture Tom, Karen and I are building is young and engaged, This is our smart growth strategy, and we all believe it’s going to continue to succeed!”