Proven performers.

• Author: Mildenberg, David
• Position: BNC 125: TOP PRIVATE COMPANIES

Business North Carolina's list of the state's largest private companies includes 50 enterprises with revenue topping $500 million in 2021 and combined employment of more than 140,000 staffers.

While most of the closely held companies receive limited publicity, their critical role in North Carolina's economy can't be overstated. So we appreciate the many companies that provide revenue and employment information for the BNC 125. The list, which is based on many emails, phone calls and hours of research, also includes our best estimates for those employers that decline to provide those specifics.

We try to make the list more comprehensive every year by adding businesses that we may have overlooked previously. Newcomers include Kinston-based private jet operator FlyExclusive, Charlotte law firm Moore & Van Allen, Wilmington retailer Reeds Jewelers and Dunn-based grocery chain Carlie C's IGA.

Departures from last year's list include two prominent Charlotte-based companies: payroll software developer AvidXchange went public, while fiber network and telecommunications provider Segra was acquired by Atlanta-based Cox Communications.

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

Many thanks to those who contributed to this report.

$1 billion or more

1. Hendrick Automotive Group

   Charlotte

   Automotive dealerships

   CEO: Rick Hendrick

   Employees: 10,800

   The company, which operates 131 franchises with 25 different nameplates, was named the top dealership in online reputation for the third straight year, according to an independent study of customer reviews by Reputation.com. About 20,000 auto dealerships and brands were measured in the United States and Canada.

2. Epic Games

   Cary

   Video game software

   CEO: Tim Sweeney

   Employees: 3,118

3. American Tire Distributors Huntersville Tire distribution service

   CEO: Stuart Schuette

   Employees: 4,700

4. Belk

   Charlotte

   Department store retailer

   CEO: Don Hendricks

   Employees: 17,000

   Hendricks became the company's leader in May after Nir Patel left to become chief operating officer at GameStop. Hendricks joined Belk in 2016, a year after Sycamore Partners bought the retailer. He became president in 2020.

5. Alex Lee

   Hickory

   Wholesale and retail grocer

   CEO: Brian George

   Employees: 14,850

6. SAS Institute

   Cary

   Software development

   CEO: James Goodnight

   Employees: 11,952

7. Parkdale Mills

   Gastonia

   Textiles

   CEO: Anderson Warlick

   Employees: 15,000

8. Bojangles

   Charlotte

   Restaurants

   CEO: Jose Armario

   Employees: 9,000

9. National Gypsum

   Charlotte

   Wallboard product manufacturer

   CEO: Thomas Nelson

   Employees: 2,500

10. House of Raeford Farms

    Rose Hill

    Poultry processor

    CEO: Robert Johnson

    Employees: 4,500

11. Leith Cars

    Raleigh

    Auto dealerships

    COO: Danny Williams

    Employees: 1,800 (estimate)

12. Flow Automotive

    Winston-Salem

    Auto dealerships

    CEO: Don Flow

    Employees: 1,700

13. Market America

    Greensboro

    Digital marketer

    CEO: JR Ridinger

    Employees: 746

14. Pike

    Mount Airy

    Construction and engineering services

    CEO: J. Eric Pike

    Employees: 2,000

15. Golden Corral

    Raleigh

    Restaurants

    CEO: Lance Trenary

    Employees: 22,000

    The buffet chain rebounded after the pandemic slammed its business in 2020. More than 90% of revenue is from franchised stores. After losing about 85 restaurants in the crisis, it expects to end 2022 with about 400 locations, Trenary told the Eat This, Not That newsletter.

16. AmWINS Group

    Charlotte

    Wholesale insurance provider

    CEO: Scott Purviance

    Employees: 3,634

17. SteelFab

    Charlotte

    Steel fabricator

    CEO: R. Glenn Sherrill Jr.

    Employees: 1,200

18. Form Technologies

    Charlotte

    Metal components manufacturer

    Global VP: Daniel Adam

    Employees: 8,800

19. Case Foods

    Troutman

    Poultry processor

    CEO: Michael Popowycz

    Employees: 3,200

    Popowycz, who joined the company in 1987, was named to the top job in February. He succeeded Kevin Phillips. Owner Thomas Shelton called Popowycz integral to the company's success. $500 million to $999 million

20. Variety Wholesalers

    Henderson

    Discount retailer

    CEO: Art Pope

    Employees: 7,000 (estimate)

21. CTE

    Charlotte

    Construction equipment dealer

    CEO: Ed Weisiger Jr.

    Employees: 1,590

22. Atlantic Packaging

    Wilmington

    Packaging materials distributor

    CEO: Russell M. "Rusty" Carter

    Employees: 2,000

23. Prestage Farms

    Clinton

    Poultry processor

    CEO: William H. "Bill" Prestage

    Employees: 2,600

24. Southco Distributing

    Goldsboro

    Convenience-store supplier

    CEO: Sherwin Herring

    Employees: 240

25. Shoe Show

    Concord

    Retailer

    CEO: Robert Tucker

    Employees: 10,000 (estimate)

26. Window World

    North Wilkesboro

    Window installation service

    CEO: Tammy Whitworth

    Employees: 2,000 (estimate)

27. Charlotte Pipe & Foundry

    Charlotte

    Pipe manufacturer

    CEO: Hooper Hardison

    Employees: 1,500 (estimate)

    In July, the company owned by the Dowd family bought Wisconsin-based Neenah Enterprises, one of the largest U.S. manufacturers of manhole covers and other industrial castings. Neenah has plants in Medley, Florida; Neenah, Wisconsin; and Lincoln, Nebraska.

28. Gregory Poole Equipment

    Raleigh

    Construction equipment dealer

    CEO: J. Gregory Poole III

    Employees: 1,350

29. Goldsboro Milling

    Goldsboro

    Turkey producer

    CEO: H.G. Maxwell III

    Employees: 800

30. CaptiveAire Systems

    Raleigh

    Manufacturer of kitchen-ventilation products

    CEO: Bob Luddy

    Employees: 1,250

31. MegaCorp Logistics

    Wilmington

    Logistics services

    CEO: Ryan Legg

    Employees: 530

32. Sampson-Bladen Oil Co.

    Clinton

    Petroleum products distributor

    CEO: Haddon Clark III

    Employees: 950 (estimate)

33. Liberty Healthcare & Rehabilitation Wilmington Nursing homes and health services

    CEO: John McNeill Jr.

    Employees: 5,500 (estimate)

34. Vannoy Construction

    Jefferson

    General contractor

    CEO: Eddie Vannoy

    Employees: 386

35. Concord Hospitality

    Enterprises

    Raleigh

    Lodging services

    CEO: Mark Laport

    Employees: 4,949

36. Shurtape Technologies

    Hickory

    Manufacturer of adhesive tape and office supplies

    CEO: Vuk Trivanovic

    Employees: 1,600

37. The Cook & Boardman Group

    Winston-Salem

    Distributor of doors, frames and related building products

    CEO: Darrin Anderson

    Employees: 1,300 (estimate)

38. True Homes

    Monroe

    Homebuilder

    CEO: Dan Horner

    Employees: 350 (estimate)

39. Pink Energy (formerly Powerhome Solar)

    Mooresville

    Solar energy and roofing

    CEO: Jayson Waller

    Employees: 2,100

    The former Powerhome Solar rebranded...