Electro Soft Named to Business Journal List of Largest Family-Owned Businesses
September 11, 2018
It’s official: Electro Soft Inc. has been named to the Philadelphia Business Journal’s list of the Largest Family-Owned Businesses in Greater Philadelphia!
In an emailed announcement to Electro Soft, Business Journal Market President and Publisher William Smith pointed out that “According to the U.S. Census Bureau, family-owned companies account for 64 percent of U.S. gross domestic product, generate 62 percent of the country’s employment, and account for 78 percent of all new job creation.”
“The economies of the United States and our region would come to a screeching halt without family business,” Smith wrote. “Your business is part of that major economic engine, and we’re thrilled that you will be included in the Largest Family-Owned Businesses list.”
We’re thrilled as well — Electro Soft has come a long way from its humble beginnings. President and founder James Wallace first opened the company’s doors in 1986. … Though more accurately, he opened the doors to his own house. “I started making a few cables on my kitchen table for a former client’s project after being laid off,” he says. “That one-time job turned into several. Before long we moved from my kitchen table to my garage.”
From there, the company moved to its current location: 113 Keystone Drive, Montgomeryville, PA. We’ve been growing ever since. Just last year Electro Soft acquired GWL Technologies, a Doylestown-based electronics contract manufacturer that made a name for itself in the medical device industry. Karla Trotman, Electro Soft’s executive vice president, says the company has grown so much they need an even bigger facility. “We are bursting at the seams and have rearranged our layout to make do until we can solidify a new location.”
“We’re honored to be named to the Business Journal’s prestigious list,” Trotman says. “We’ve all worked hard to help this company grow, and we’re very proud of our history.”
On Oct. 4th, Electro Soft will be publicly recognized during a Family Business Conference at the Crystal Tea Room in Center City’s Wanamaker Building. The Philadelphia Area’s Largest Family Owned Businesses list will be published in the Oct. 5th edition of the Business Journal. It will also be added to the Journal’s Book of Lists.