In June of 2009, Ray Sidhom, CEO of Melville, New York based payment processor EVO Merchant Services, received the Ernst & Young Entrepreneur of the Year Award—bestowed by global consulting firm Ernst & Young LLP to recognize “outstanding entrepreneurs who are building and leading dynamic, growing businesses.” While Sidhom didn’t expect a panel of independent judges to single him out as the award recipient for the Metro New York region, the fact that it did so is not surprising given EVO’s growth since its inception some 15 years ago.
Recognized as one of the top 20 acquirers in the United States, EVO was co-founded by industry veterans Sidhom and Jeff Rosenblatt, president. The company, which began in a single small office with eight employees, now occupies an 85,000-square-foot building in Melville. Its team of more than 800 U.S. staff members is distributed among the Melville headquarters and a 15,000+ square-foot data center in Moorestown, New Jersey; EVO also maintains a similarly sized office in Montreal, Canada. What Rosenblatt deems a small cadre of customers has grown into a portfolio that includes 250,000 U.S. and Canadian merchants processing more than 385 million transactions and $26 billion in transaction volumes annually. EVO boards approximately 7,000 new merchant accounts each month.