A New Recruit and Old 49ers Friends Craig Taylor Equipment, Alaska USA, and Northrim join the 2022 list.

• Author: Pesznecker, Katie

The list of the Top 49ers is fairly consistent, though it never repeats itself exactly. Some companies don't have the revenue year after year to make the list, others may opt to participate one year and not another. Every so often, a new company builds its revenue sufficiently to qualify for the first time, a feat we often recognize in our special section and annual luncheon presentation.

This year is unique as we welcome three "new" Top 49ers to the ranks. Craig Taylor Equipment fits our traditional sense of a new 49er, as 2022 is its first ever appearance on the list.

Alaska USA Federal Credit Union and Northrim Bank are slightly different. These financial institutions are new this year because of the change in our criteria: our past criteria of "Alaskan-owned" disqualified both, Alaska USA is member-owned and, with its continued growth, there was a tipping point where it had more members outside Alaska than within. Northrim is publicly traded and cannot guarantee the residency of its shareholders. That said, both were founded in Alaska and remain headquartered here, and under our new criteria we are thrilled to welcome them back to the Top 49ers ranks, recognizing their ongoing commitment to financing Alaska.

Craig Taylor Equipment

Craig Taylor debuts in the Top 49ers ranks at number 47 with $56.1 million in gross revenue in 2021. It was founded in 1954 by Craig Taylor; Thelma Taylor, his widow, sold the company in 2013 to the current owners. "Since then we've been trying to pump new life into the business and really bring it into the 21st century," says president, CEO, and minority owner Chris Devine, who was the company's first new employee after the acguisition.

Majority owner Sean McLaughlin is an Alaska transplant from the East Coast. "He developed software for securities trading on Wall Street. He sold that business," Devine explains, "and he moved to Alaska with the desire to raise his [ten] kids in a slower-paced lifestyle." Despite being semi-retired at the age of 40, McLaughlin had an eye out for "something to do" and became aware that Craig Taylor Equipment was for sale. Devine says, "He felt like Craig Taylor was a very quintessential Alaska company, and he wanted to be a part of that culture, building and providing jobs for Alaskans in Alaska."

Craig Taylor Equipment provides parts, services, sales and rentals for John Deere, Bobcat, Doosan, Stihl, Honda, DR Power, and other brands. Even with that lineup, "We felt like there was only so much growth in market share we could get within the current business," Devine says, "so we've always been looking for M&A opportunities along the way."

The company found one in January 2021: Dobbs Peterbilt of Alaska's assets...