By Pete Anderson, Taylor Wanbaugh and David Mildenberg
Welcome to Business North Carolina’s annual list of the state’s largest privately held companies. For more than 30 years, the magazine has recognized businesses that play pivotal, often understated roles in building the state’s economy.
We are appreciative of the many companies that provide revenue and employment information for the BNC 125. The list also includes our best estimates for some businesses that prefer not to disclose that information. The result of hundreds of emails and phone calls is an unparalleled look at North Carolina’s private company universe.
The list is based on 2020 revenue, reflecting a year heavily affected by the COVID-19 pandemic. Skillful maneuvering enabled many BNC 125 companies to grow or limit revenue declines, while others benefited from effective digital strategies as the economy shifted. To be sure, some hospitality enterprises on the list took their lumps due to reduced corporate-related travel.
Among this year’s new entries are Concord-based retailer Shoe Show and Newton Grove-based Hog Slat, which mainly serves the pork industry. Both are family-owned enterprises.
Private equity-controlled companies whose operations are based in North Carolina are eligible for the list. The majority of businesses are closely held organizations with long histories in the state.
Thank you to all who contributed to this annual project.