WWT Ranks No.2 on Top 150 Privately Held Companies List for St. Louis
Posted on Mar. 24, 2017 by the St. Louis Business Journal:
World Wide Technology, the Maryland Heights-based systems integration and solutions provider, exceeded growth projections in 2016, reporting revenue of more than $9 billion, a 20 percent increase over 2015.
Over the past decade, World Wide Technology, which is owned by CEO Jim Kavanaugh and Chairman David Steward, has grown from $2.1 billion in sales and fewer than 1,000 employees to $9.4 billion in sales and more than 4,000 employees — a 348 percent increase in sales from 2006 to 2016. Kavanaugh said the company is starting to see a return on its investment in developing innovation centers, which it made about seven years ago.
The company broke ground on a new 210,000-square-foot, $95 million headquarters in Westport Plaza in late December 2015, with most of the construction happening in 2016. It is expected to open in June. The move represents an expansion for World Wide Technology, which will keep its current multi-building campus in Maryland Heights. Its software development arm is also growing, taking an additional 9,000 square feet of office space in the 1000 Spruce St. building in downtown St. Louis.
Kavanaugh said he expects another 12 percent to 15 percent uptick in revenue for 2017, when the company expects to add between another 500 to 700 employees across the business.