It was a return to growth among this year’s Top 100 Private Companies as 2021 saw Capital Region businesses begin recovering from the economic one-two body blows of COVID-19 and the resulting government-imposed safety restrictions.
The collective total 2021 revenue of this year’s Top 100 class was $27.3 billion, up from 8.3% the previous year, which saw total revenues fall for the first time in more than a decade. Sixty companies, or two-thirds of the class, posted revenue gains—against 30 decliners—with the average percentage gain checking in at 20.26%. More impressively, one out of every five companies on the list—or 20, up from 13 last year—realized revenue gains in excess of 25%. Just three companies, down from a staggering 26 a year ago, posted losses in excess of 10% and, it must be noted, one of those was the result of the company splitting into two entities over the course of 2021.
While Blue Cross and Blue Shield of Louisiana remained firmly atop the list ($4.56 billion), the big story in the top 10 is Raising Cane’s overtaking longtime No. 2 Turner Industries. Frying up 37.1% revenue growth in 2021, Raising Cane’s posted $2.4 billion in revenue, inching ahead of Turner’s $2.37 billion.
Two other notable moves from last year’s top 10: MMR Group, up 26.3% to $768 million, jumped three places to No. 7 on this year’s list while Excel Group, down 42.2% to $359 million, tumbled out of the top 10, from ninth to 18th.
See the full list here, and check out the digital version of Business Report’s July edition, available for Insiders. Send comments to editor@businessreport.com.
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