Arsenault Associates, a provider of fleet maintenance management solutions, reported its revenue grew by 118 percent over the past five years. In 2009, despite the severe recession and resulting downturn in the transportation industries, revenues grew 5 percent.
Also during 2009, Arsenault’s 30th year in business, the company increased staffing in product development, contrary to the industry trend.
“Despite the continuing poor economy, we continue to grow,” said CEO Charles Arsenault. “Although a substantial number of existing and prospective customers are dealing with budget cuts and project delays, we continue to help many customers reach a decision to move forward based on the clear ROI associated with a well-implemented fleet asset maintenance management system. At the same time, we increased our investment level in product development in order to deliver an even broader range of benefits for our customers in 2010 and beyond.”
Arsenault said that growth had come in a number of markets, but primarily through increased adoption by government fleets, waste operations, and — in a strong resurgence of interest — trucking fleets.