Colorado Companies to Watch spotlight: LT Environmental Inc.
Snapshot: LT Environmental specializes in compliance, engineering and remediation for a diverse range of industries and markets including oil and gas, manufacturing/industrial, real estate, government, and public and private property owners
Leadership: Thomas Murphy has been president of the Arvada-based company since its inception in 1992.
Work force: LT Environmental’s work force has increased from 65.5 full-time-equivalent employees in 2008 to 95 at the end of last year. The company projects an increase to 110 employees this year.
Pivotal moment: In April 2004, after 12 years in business, the owners of LTE began working with a business coach, focusing on the company’s people and verbalizing company values. Then in May 2006, LTE moved from a 6,000-square-foot space to a 15,500-square-foot facility, giving the company confidence to take bigger risks. This year the company filled its Arvada headquarters, having grown from 40 employees to more than 90, and opened six new offices around Colorado and
Competitive edge: LTE says its “product” is not technology but “our ability to safely satisfy and meet our clients’ needs and regulatory requirements.” The company’s goal is to provide a technically reasonable approach that protects the public health and environment while encouraging industry to continue to invest in Colorado.
Growth curve: Since 2006, LTE has increased total revenue by more than 85 percent (17 percent per year). The company is projecting a revenue increase of 15 percent this year over 2011.
Marketing: LTE’s Precision Remediation and Site Closure Program, dubbed “TerraCert,” was designed to expand LTE’s market share in the environmental remediation arena. Since 1995, LTE has been a top Rocky Mountain environmental remediation company for cleanup of hydrocarbons in soil and groundwater.