Dallas Business Journal Names Envela the 23rd Fastest-Growing Company in North Texas

Rhea-AI Summary

Envela Corporation (NYSE American: ELA) was recognized as the 23rd fastest-growing company in North Texas by the Dallas Business Journal's Middle Market 50 list. This achievement highlights the company's robust revenue growth over the last three years, specifically among firms with annual revenues between $10 million and $1 billion. Allison DeStefano, Executive Vice President, emphasized the honor as a reflection of Envela's positive workplace culture and commitment to sustainable re-commerce.

Positive

• Ranked 23rd on the Dallas Business Journal's Middle Market 50 list, showcasing strong revenue growth.
• Highlights commitment to a positive workplace culture and sustainable re-commerce practices.

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• None.

DALLAS, TX / ACCESSWIRE / October 14, 2022 / Envela Corporation (NYSE American:ELA) ("Envela" or the "Company"), the North American leader in the "re-commerce" business, was recently named to the 2022 Dallas Business Journal's Middle Market 50 listing, which recognizes the fastest-growing middle-market companies in North Texas.

"Being recognized as one of the fastest growing companies in North Texas is truly an honor and a testament to the positive workplace and culture, we have built at Envela," said Allison DeStefano, Envela board member and Executive Vice President of Retail Operations. "We are incredibly proud of our team and our commitment to sustainable re-commerce."

Envela was awarded the 23rd spot on the Dallas Business Journal's Middle Market 50 (MM50) award rankings. The MM50 list is based on revenue growth over a three-year period for companies with annual revenue of $10 million to $1 billion. The rankings are compiled by the Dallas Business Journal from nominations and through research using publicly available information.

The full 2022 Middle Market 50 list is available on the Dallas Business Journal website.

About the Dallas Business Journal

Founded in 1977, the Dallas Business Journal is the leading source for local business news, research, and events in the Dallas/Fort Worth area. The publication provides value to its constituents by helping them grow their businesses, make money, and grow their careers through a comprehensive set of vehicles, which include print, digital, and events. The publication is a division of American City Business Journals, the country's largest publisher of business publications. It is owned by Advance Publications, a private publishing company that also owns Condé Nast magazines and Newhouse newspapers.

About Envela

Envela is the North American re-commerce leader, enabling a better world via the circular economy. It empowers buyers and sellers to extend the useful life of specialty and durable goods, and to seize retail, recycling, and reverse-logistics supply-chain opportunities. This financially benefits consumers and manufacturers alike. Envela operates primarily via two re-commerce business segments, DGSE and ECHG. DGSE (Envela's B2C portfolio) operates retail stores and online sites offering luxury hard assets and precious metals, including gold, silver, and diamonds. ECHG (Envela's B2B portfolio) re-commercializes consumer electronics and IT equipment, and also provides end-of-life recycling services for products in a variety of industries. Envela conducts its re-commerce operations at retail and wholesale levels, through distributors, resellers, dedicated stores, and online. Holdings in all of Envela's business units have recognized multiple years of growth.

At Envela we Reuse, Recycle, and Reimagine. To learn more, visit Envela.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, including statements regarding the potential future success of business lines and strategies. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

Investor Relations Contact:

Investor Relations
1901 Gateway Drive | Irving, TX 75038
investorrelations@envela.com

SOURCE: Envela

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FAQ

What is the significance of Envela's ranking on the Dallas Business Journal's Middle Market 50 list?

Envela's ranking at 23rd reflects its strong revenue growth over three years, placing it among the fastest-growing middle-market companies in North Texas.

What does the Middle Market 50 list measure?

The Middle Market 50 list measures revenue growth among North Texas companies with annual revenues between $10 million and $1 billion.

Who commented on Envela's recognition in the press release?

Allison DeStefano, Envela's board member and Executive Vice President of Retail Operations, commented on the recognition.

What type of business does Envela Corporation operate in?

Envela operates in the re-commerce business, focusing on extending the useful life of specialty goods and providing recycling services.

When was the press release about Envela's recognition published?

The press release was published on October 14, 2022.