BNC 125 TOP PRIVATE COMPANIES.

• Author: Ellis, Kevin

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For 30 Years

Since 1993, the principals of Ridgemont Equity Partners have invested over $6 billion in 165+ companies. Ridgemont is the largest private equity firm in North Carolina and among the largest in the Southeast. The firm has been consistently named to Inc.'s list of "Founder-Friendly Private Equity Firms," which recognizes Ridgemont for a track record of building leading middle market companies alongside entrepreneurs.

For the fifth year in a row, we are pleased to sponsor Business North Carolina's "Top 125 Private Companies" list and wish to congratulate the honorees! For more information on Ridgemont's team and investment strategy, visit www.ridgemontep.com

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We are sector-focused investors with experience in service, distribution and tech-enabled business models.

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* The investment professionals of Ridgemont have over 200 years of collective investing experience, and the firm has nearly tripled in size over the last decade.

* We employ over 15,000 people across our portfolio companies, and have increased the employee base by nearly 50% on average for realized investments

BE GREATER

DMJPS PLLC ("DMJPS") is pleased to sponsor Business North Carolina's Top 125 Private Companies for the third consecutive year. As a North Carolina CPA and advisory firm with a mountains to the coast footprint, we understand the pivotal and essential role privately held companies play in our state's economy. We celebrate all who make North Carolina Be Greater and congratulate this year's Top 125 Private Companies.

DMJPS CPAs + Advisors is a tax, assurance, and business advisory firm that routinely solves complex matters for individuals, privately-held businesses, nonprofit organizations, and corporations with a wide range of specialized solutions. Clients work with us because we build reliable relationships dedicated to providing exceptional results and innovative solutions.

DMJPS is committed to helping its people, clients, and community reach their goals. With an uncompromising commitment to clients and service quality, DMJPS was formed to make a positive impact by one guiding principle: Be Greater.

Mountains to Coast

With North Carolina offices from the mountains to the coast in Greensboro, Asheville, Boone, Durham, Marion, Sanford, and Wilmington, DMJPS provides solutions from one reliable firm.

The DMJPS team of 165+ professionals is future ready through the firm's advanced technologies, specialized industry knowledge, and a strong commitment to meaningful client relationships. Advisory services include business valuations, mergers and acquisitions, succession and exit planning, and healthcare practice consulting. DMJPS' deep industry knowledge includes professional services, real estate, manufacturing, agriculture, and hospitality.

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For more information about DMJPS visit dmjps.com.

7 OFFICE LOCATIONS

165+ PROFESSIONALS

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DMJPS was formed to make a positive impact by one guiding principle: Be Greater

PRIVATE PERFORMANCE

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 states 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.

The list includes North Carolina-based companies controlled by private-equity groups. Most of the businesses are closely held organizations, including many family-owned operations.

Many thanks to the dozens of people who contributed to this report.

2 Epic Games

Epic Games reported it had 230 million users of its game store in 2022, up 36 million from the previous year. In 2022, its daily active users peaked at 34.3 million, while those active at least monthly reached 68 million. Publishers and developers brought 626 new PC titles to the store in 2022, bringing Epic's total count up to 1,548. Including Epic's own games, players spent $820 million in 2022, down 2% from 2021.

6 SAS Institute

The Cary-based company, which is mulling an initial public officer, committed to investing $ 1 billion over the next three years in creating AI-powered advanced analytics solutions. The company employs about 4,000 people in the Triangle, about 1,000 fewer than cited three years ago by Wake County Economic Development.

KEY UPDATES

Changes at some BNC125 Top Private Companies over the last year.

7 Pike

Under a leadership restructuring, Eric Pike became chair and former COO James Wyche became CEO. Matt Fisher is president.

8 Amwins

Charlotte-based insurer Amwins partnered with Tokyo-based MSIG North America to provide significant underwriting capacity for more than 20 Amwins underwriting programs. The partnership will support existing business, and provide a catalyst for new product development, says Amwins CEO Scott Purviance.

12 Bojangles

The chains new restaurants won't offer bone-in chicken, reflecting easier preparation and consumer s preferences. It collaborated with Appalachian Mountain Brewery to offer "hard sweet tea" at various groceries.

14 Shoe Show

The Concord-based company expanded its retail portfolio with the acquisition of Charleston, South Carolina-based Half-Moon Outfitters. The outdoor-focused retailer will continue to operate under the Half-Moon Outfitters brand.

17 Flow Automotive

The automotive dealership based in Winston-Salem purchased six dealerships and eight franchises in the Charlottesville, Virginia, area in April, bringing its total number of franchises in North Carolina and Virginia to 53, representing 26 brands. Flow acquired the Umansky Automotive Group dealerships, with locations for Honda, Toyota, Subaru, Mercedes-Benz, Chrysler, Dodge, Jeep and Ram. In July, it bought a Kia dealership in Charlottesville from Jim Price Auto Group.

18 Samet

The Greensboro-based contractor cracked into the Top 100 contractors in the country based on revenue, according to the industry publication Engineering News-Record. Samet climbed 53 places--from 137 to 84--over the last year.

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