Fast 25: Sipes Asphalt Solutions

Revenue growth FY 2017 to 2019: 253%
2019 revenue: $7.5 million

Plenty of work: A lot of construction in central Indiana has meant a lot of work for Sipes Asphalt Solutions. “Our current customers are growing with the economy, and we’ve been lucky enough to grow with them,” President Dean Sipes said.

Getting around: Sipes does new construction, maintenance, asphalt, concrete and sealcoating. Among the projects the company worked on in the last year were the new Indianapolis Public Library Michigan Road branch and two parks in Zionsville—the Elm Street Green and the Tot Lot at Lions Park. He said the company’s work included a mix of excavating and site grading to get the projects ready. The company also installed new sidewalks and concrete stairs. At the Zionsville parks, the firm also installed surfaces to support new playground equipment.

Teamwork: Sipes credits his management team and employees for keeping the company running smoothly and enabling the growth. His brother Jeffrey handles operations—fleet management and scheduling—and “makes life easier for us.” Sipes also singled out Brian Nifong, chief operating officer and head of estimating, who joined the company last year, and Dan Chamberlin, who’s in charge of sales.

Building business: Much of Sipes’ business starts from word of mouth and continues with repeat business. “Most of it’s just keeping your clients happy and being there for them, and they keep coming back to us.”

Looking ahead: Sipes said he hopes the company’s growth will continue, but “we’re under the realization that the world and the economy is changing. So we might not be as lucky in the future. We might need to adapt. But if we treat every customer like they’re our best customer, we should be able to make it through.”•

Check out more of IBJ’s ranking of Indy’s fastest-growing companies.