Mainebiz

W W W. M A I N E B I Z . B I Z 15 D E C E M B E R 1 2 , 2 0 1 6 His instincts have paid off handsomely. Since 2011, Maine Coast has achieved an enviable record of yearly double-digit growth. Top-line sales hit $15 million in 2012, $24.6 million in 2013, just under $40 million in 2014 and $42.2 million in 2015. He's expecting to close out this year with sales of more than $50 million. Between 30% and 35% of those sales are in Asian markets, with another 15% to 20% being in Europe and roughly half in domestic sales. In just fi ve years, Adams' company has become a major player in Maine's lobster industry, which accounted for $331 million in total export sales in 2015 and 12.2% of the top 25 Maine export commodities. Employment has tracked Maine Coast's rapid sales growth, with Adams reporting 20 full-time employees in 2013, 26 in 2014, 35 in 2015 and 40 in 2016. Accolades have come along with his business's success: Maine Coast was named 2015 "exporter of the year" for Maine by the U.S. Small Business Administration and earlier this year Mainebiz selected Adams as one of 10 outstanding forward-thinking busi- ness leaders who were honored Nov. 3 as members of the 2016 Next List. Even so, Adams is the fi rst to admit there've been some challenging moments along the way, such as losing "several hundred thousand dollars" in his second year to an international customer who didn't pay his bills. "It almost put us out of business," Adams says of that classic valley-of-death moment. "I've hit every pitfall you can imagine, but I didn't give up. I'm extremely passionate about exporting shellfi sh and expanding the Maine brand to international markets." Besides investing heavily on market- ing his company and the Maine brand, Adams says he's made a point of making strategic investments designed to sustain continuing growth. In July he opened a live lobster facility on the Boston Fish Pier, which puts his brand in the heart of Boston's vibrant food scene and also enables him to respond quickly to last-minute orders for southern New England and other domestic markets. "We sell Maine," he says. "I named my company 'Maine Coast' for a rea- son. If we can get people to come to us here in Maine, it's a slam dunk. We've got them as a customer. If they can't come to us, we bring 'Maine' to them through our website and videos." He says exports will remain a key focus of the company's business plan. "China alone has to import 50% of its food just to feed its population," he says. " e opportunities are endless." J M C , M a i n e b i z s e n i o r writer, can be reached at @ . and @ J M Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions Five questions How would you describe your com- pany's core mission? Our mission is to provide superior lobster quality and world-class customer service, support Maine's lobster industry by constantly innovating and exploring new opportunities and maintain a safe, healthy and fun work environ- ment for our employees. What were the key factors in your company's growth? Our fastest grow- ing market is Asia. An estimated 30 million people enter the middle class every year in China. We are seeing increased demand from Europe as well as emerging markets in Thailand, Philippines and Malaysia. How have you adjusted to the rapid growth? We have constantly rein- vested in both infrastructure and a skilled workforce. In 2016, we added a satellite facility in Boston for easi- er access to Logan Airport and the Boston and southern New England markets. In addition we have added staff in operations, sales, marketing and administration. Do you have plans to hire additional employees? We hired three new employees to join the sales team in Q4 2016 and will continue to increase staffing when necessary. What can we expect for 2017? In the first half of 2017, we'll be adding a 9,000-square-foot addition in York that will provide two new loading docks and 30,000 pounds of addition- al lobster storage, bringing our total capacity in York to 180,000 pounds. We will continue to explore new mar- kets, both at home and abroad. WE ' RE LIKE I.T. GUYS WITH TOOLS . . connectivity point design & installation / ME-NH-MA / 866-782-0200 / connectivitypoint.com network cabling / audio visual / security / cell boosters / telephone Connectivity Point is a Maine-owned company, specializing in the infrastructure for voice, data, video, and security applications. Our local technicians assist customers from Bangor to Boston and our global partner network expands our reach, which means we'll keep you connected no matter where your offi ces are. Get to know us at connectivitypoint.com GROWING FAST, If your company is we are the legal team that will keep up. nhdlaw.com • Portland (207) 774-7000 • Lewiston (207) 777-5200 I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate I'm extremely passionate about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish about exporting shellfish and expanding the Maine brand to international markets. — Tom Adams, founder and CEO

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