Construction, always a boom-and-bust business, is experiencing the upside of that formula, this year’s ranking of the state’s 100 largest private companies shows. Of the 10 companies recording the biggest gains in rankings compared with a year ago, eight are in building-related industries. Among the companies benefiting from a robust market is Charlotte-based general contractor Edifice Inc., with projects including a university dorm in Boone, a FedEx Ground distribution center in Durham and an auto-parts supplier’s headquarters near Charlotte. Edifice leaped 15 spots, while Precision Walls Inc. jumped 11 spots and Clancy & Theys Construction Co., 10.
While public companies grab most headlines, private companies pack a powerful economic punch. Collectively, the 100 companies employ nearly 105,000 people in industries running the gamut from logistics to software. A large number of family-owned companies, passed down through generations, hold spots on the list.
“Companies on the North Carolina 100 list are the backbone of our local economy,” says Dave Wedding, Charlotte-based managing partner for the Southeast region at Grant Thornton LLP. “They are North Carolina’s top builders, innovators and creators — hardworking people who keep our state running on a smooth track.”
The Chicago-based accounting firm assembled the Grant Thornton North Carolina 100 based on information reported by the companies. Participation is voluntary, and the largest company in 2016, Huntersville-based American Tire Distributors Inc., chose not to participate this year. Asheville-based solar-farm developer FLS Energy, the biggest mover on last year’s list, dropped off after being acquired by California-based Cypress Creek Renewables in December.
“We congratulate this year’s NC100 recipients and are proud to recognize the substantial impact of private companies in North Carolina,” Wedding says.
About the Grant Thornton North Carolina 100®
Since 1984, the Grant Thornton North Carolina 100® has ranked the state’s largest private companies by revenue in the most recent fiscal year, based on data provided by the participants. The NC100 is a voluntary list restricted to companies based in North Carolina that do not have publicly traded stock. Companies owned by private equity are permitted. Nonprofits, financial-services companies, health care providers such as hospitals and subsidiaries of corporations are excluded. For more details, visit GrantThornton.com/NC100.