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August 19, 2024 / 2024 40 Under 40 Award Honorees

2024 40 Under Forty: Matthew S. Gelles

Age: 36 Company: NEFCO Title: President & CEO No. of years with current company: 14 Where I work: East Hartford College: Syracuse University Highest degree: Master’s of Industrial Distribution, Texas A&M
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Matthew Gelles serves as president and CEO of NEFCO, a 1,000-plus employee construction supply distributor throughout the United States. As president and CEO, Gelles provides leadership for the entire company, with an emphasis on long-term value creation, growth, profitability and return on invested capital.

He is responsible for NEFCO’s strategic, financial and operational execution with oversight over all of NEFCO’s departments. Since Gelles joined NEFCO in 2010, revenues have grown by 18x and profitability has grown by 28x.

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What’s been your biggest professional accomplishment so far in your career?

My biggest professional accomplishment has been leading the execution of the comprehensive strategic plan I drafted in 2012, to take our family’s regional construction distribution business from 70 employees and four locations in 2012, and grow it to become a nationwide distributor, which today spans over 40 locations and over 1,000 employees.

Why do you deserve to be a 40 Under Forty?

• Took over leadership of NEFCO as president and CEO in 2022 at age 34 and have doubled both revenues and profitability in the last two years.

• Lead strategic planning and execution, which has led to tremendous growth and transformation of our family business, from 70 employees to over 1,000 in 14 years.

• Lead strategic planning and execution, which has resulted in revenues increasing by 18x in those 14 years, making NEFCO one of the largest independent distributors across the U.S.

What do you like to do outside of work?

I enjoy spending time with my family, my wife Tracy, and sons Gabe and Jack and my extended family and friends. I am an avid sports fan and in my spare time, I enjoy playing golf, basketball, tennis, padel and basically any other sport available to me.

How are you involved in the community?

For generations, starting with my grandparents, my parents, and now, for my wife and I, philanthropy and involvement in the Hartford community have been a priority in our everyday lives. In particular, I have been a longtime supporter, donor and member of the Greater Hartford Jewish Federation and the Mandell JCC, where I grew up playing sports with friends, and where my son attended preschool.

Fun Fact

Like Taylor Swift, my lucky number is 13, and it follows me everywhere.

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Matthew S. Gelles

 

 

 

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