Editor’s note: Kevin Ellis, Audrey Knaack, David Mildenberg and Ebony Morman wrote this story for Business North Carolina magazine.


CHARLOTTE – Led by famed entrepreneurs such as Rick Hendrick, Tim Sweeney and Jim Goodnight, closely held companies based in North Carolina play a vital role in boosting the state’s economy. The annual BNC 125 list continues a four-decade tradition in highlighting the state’s biggest private companies.

This year’s list cites 77 enterprises with annual revenue topping $300 million, including 25 that top $1 billion.

Our goal is to make the list more comprehensive every year, while realizing we are unintentionally missing some obvious entrants.

Many companies provide revenue and employment information for the BNC 125. For others, we rely on lots of emails, phone calls and research to develop estimates for employers that decline to provide specifics. Trade publications with deep expertise in specific industries are key data sources.

Newcomers this year include retailer Fleet Feet of Carrboro, medical-data organization Velocity Clinical Research of Durham and forestry products manufacturer Jordan Lumber
of Mount Gilead.

Read the full story online.

Proven performers: 2023 list of North Carolina’s largest closely held companies