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Benchmark Group history
Benchmark Group company history timeline
Under Chambers, Intermedics branched out in a number of directions. It was in 1979 that the predecessor to Benchmark--Electronics, Inc.--was created by Intermedics to produce patient monitoring equipment, with production facilities in Texas.
It would be incorporated in 1981 as a wholly owned subsidiary.
Compounding Chambers's problems was a 1982 congressional hearing on alleged bribes and kickbacks by pacemaker manufacturers that centered on Intermedics.
Benchmark began in 1983 as the "Benchmark Sound Company", a small operation working out of a garage in Garland, Texas.
Then in 1984 banks declared that Intermedics was in technical default on a $100 million loan.
Chambers hoped to reach $500 million in annual sales by 1985, with less than half coming from pacemakers.
1988: Company is renamed Benchmark Electronics, Inc.
In 1990 Benchmark generated $21.3 million in sales, earning $2 million, up from $1.4 million the year before.
Benchmark upgraded its Houston manufacturing facility and purchased new equipment for a Beaverton, Oregon plant that it opened in 1991.
As early as 1992 Benchmark began to shop for possible acquisitions to grow the company.
An Ambitious Start in 1995
In March 1996 Benchmark made an acquisition that would accelerate its growth.
As it absorbed EMD, Benchmark saw its sales top $200 million in 1996 while posting a net income of $8.9 million.
David Beirne became a partner in May 1997.
The 1999 Acquisition of Avex: Largest-Ever CEM Deal
Results for 1999 were less than anticipated, falling well short of the $1 billion mark in sales, coming in at $877.8 million.
Benchmark investments Ashford.com (watch sales), Webvan (Internet-based groceries delivery), PlanetRx.com Inc., and E-Loan were all hit hard in the mass e-commerce sell-off of May 2000.
The group established an office in London in 2000, led by partner George Coelho, who was eager to bankroll Europe's talented, underfunded entrepreneurs.
Webvan, the ambitious Internet grocer start-up, went bankrupt in the summer of 2001.
Benchmark's interest in consumer-oriented start-ups was somewhat against the prevailing fashion among venture capitalists in 2002.
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Zippia gives an in-depth look into the details of Benchmark Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Benchmark Group. The employee data is based on information from people who have self-reported their past or current employments at Benchmark Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Benchmark Group. The data presented on this page does not represent the view of Benchmark Group and its employees or that of Zippia.
Benchmark Group may also be known as or be related to Benchmark Group, Benchmark Group Inc and Benchmark Group, Inc.