Scoring off the rebound: fast 40 companies thrive after the recession--and often because of it.

• Position: Company overview

North Carolina Mid-Market Fast 40 businesses cover a wide spectrum of industries, from logistics to construction, but they all have one thing in common: exceptional revenue growth over the past three years. A panel of executives from Fast 40 companies recently gathered to discuss the factors that have contributed to their success. Participating were Kip Blakely, vice president of industry and government relations for Greensboro-based TIMCO Aviation Services Inc.; Mark Longley, vice president of business development and national accounts for Durham-based Parata Systems LLC; Philip Maung, founder and CEO of Charlotte-based Lwin Family Co., which operates food service and distribution brand Hissho Sushi; Bob Webb, CEO of Myers & Chapman Inc., a Charlotte-based construction company; and Gary Winstead, co-owner of Wilmington-based LoadMatch Logistics Inc. Also participating was Scott Duda, Raleigh managing partner for accounting firm Cherry Bekaert LLP which compiles the Fast 40 list and sponsored the event which was hosted by Pinehurst Resort. Ben Kinney, publisher of Business North Carolina magazine, moderated the discussion. The following transcript has been edited for brevity and clarity.

What are some common trends among this year's Fast 40?

Duda: The companies that made the list didn't just survive the recession--they thrived during or coming out of it. The downturn forced businesses to shed a lot of talent, and the Fast 40 took advantage of who was available. One company that we interviewed pointed directly to a person and said, "This hire, which wouldn't have happened without one of our competitors struggling, changed the dynamic of what we are doing and gave us a springboard for growth." One challenge they face is managing growth because of the amount of success that they've had. They wouldn't be here if they weren't prosperous. It's not so much developing products or getting their brand out, though both continue to challenge them. They got from point A to point B, but they need to find a way from point B to point C while maintaining their culture and honoring their values. The issues with the economy are in the rearview mirror for these companies. Looking forward, they are putting a lot of energy into succession planning. Will the next generation be as hungry as the group that made the company successful? Will they be willing and able to make the needed decisions?

What does the state's economy look like through the eyes of your industry?

Webb: Construction took a serious hit in 2009 and 2010. It has improved each year since. We don't expect it to return to the level it was at before the recession, but we think it's in a pretty good place. It's a very different business than before the recession. Back then, construction companies were mostly putting up free-standing buildings. Now the jobs are smaller on average, and there is a lot of renovation of existing buildings. Some of them have been empty for eight or 10 years.

Maung: We've been a Fast 40 company for two years straight. One thing sustaining that growth is our values. Many bigger companies look at the bottom line when cutting costs. Often that means cutting employee benefits. We don't want to sacrifice those. We offer a 401(k) plan with a dollar-to-dollar match and health-care benefits. We can do that because we're still privately held, so...