Baton Rouge Business Report 2024 Top 100 Private Companies
Methodology
To produce Business Report‘s annual Top 100 Private Companies list, our researcher sends announcements and emails in the spring to all companies on our recent Top 100 lists, as well as to those identified as possible qualifiers and those suggested by readers. We also place notices on our websites, asking companies to post their information or submit it to us.
Some companies decline to reveal their numbers, so we rely on public information and sources to make reasonable estimates. Those companies are denoted in the list’s footnotes.
We follow up with emails, phone calls and research to confirm the data. In some cases, we examine related industry performance reports and other business compilations to estimate revenue.
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Companies are ranked according to reported or estimated revenue for the most recently completed fiscal year, which in most cases was the calendar year 2023. If your company wants to submit information for next year’s list, email research@businessreport.com for more information.
Top 100 private companies
6 5 MMR Group Inc. 15961 Airline Highway, Baton Rouge 70817 225-756-5090 | mmrgrp.com
It seems our prediction that this year would mark Blue Cross and Blue Shield of Louisiana’s departure from the Top 100 Private Companies list was premature. The health insurance giant returns to the No. 1 spot after experiencing a roller-coaster ride over a proposed deal in 2023 with Elevance Health. BCBSLA has held the top spot every year except 1997 since first entering the rankings in 1994.
As for the hoped-for acquisition, the company twice paused the proposed $2.5 billion deal— once in September 2023 and again in February amid public concerns and a lack of buy-in from state regulators. CEO Steve Udvarhelyi, who led the initiative, retires this month after eight years at the helm, and Executive Vice President and COO Bryan Camerlinck (pictured right) takes the reins immediately.
Top 100 private companies
Researched by Alaine Keisling
Fast money
Not many businesses can boast of triple-digit percentage growth in a single year, but two on this year’s Top 100 Private Companies list can. Coming in at No. 5 in revenue, luxury auto dealer Dream LT—known locally as Mercedes-Benz of Baton Rouge—more than tripled its revenue to $1.8 billion in 2023, up from $580 million in 2022, thanks in part to an expansion into Florida. That’s a jump of 210.34%. Only one other firm on the list achieved a triple-digit feat: heavy civil construction company Five-S Group On the list at No. 40, its revenue rose nearly 197%, from $48.35 million in 2022 to $143.54 million in 2023.
Top 100 private companies
Ups and downs
In a year marked by rising interest rates, labor and skills shortages, rising wages and other economic challenges, both gains and losses among the Top 100 Private Companies were more dramatic in 2023 than in years past. Those posting a revenue gain dropped to 57 this year from 72 last year. Five companies posted flat revenues, but it should be noted that some of those do not provide data to Business Report and thus are estimated based on publicly available sources. The number of companies reporting a loss rose to 38 from 25 the previous year. The average gain among those who made the list was a five-year record 40.89%, up 12.64 percentage points over 2022 revenue. Those on the decline experienced a 16% average loss, up just under six percentage points compared to a year ago and comparable to 2020.
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Top 100 private companies
35 43 Smith Tank & Steel 42422 La. 30, Gonzales 70737 225-644-8747 | smith-tank.com
For the third year in a row, the home of ‘Caniacs’ takes the No. 2 spot on the Top 100 Private Companies list, having broken $1 billion six years ago. Since 2003, when Raising Cane’s first provided Business Report with its revenues, the company has had no less than double-digit growth, averaging 31.75% per year. The growth hit its peak percentage to date in 2005, clocking in at 81.63%. Today, the company’s One Love trajectory continues to rise, with 600 restaurant locations across 31 states and five countries.
66 NR DAA Media + Marketing 6421 Perkins Road, Building C, Suite A, Baton Rouge 70808 225-925-9788 | daa-mediamarketing.com
Researched by Alaine Keisling
Gender gap
Across the country, parity remains a mixed bag for women at the very top of the C-suite. Last month came the news that female CEOs are outearning their male counterparts In S&P 500 companies. But just 10.4% of Fortune 500 companies are led by women. In the Capital Region, women gained a bit of ground in 2023. With the addition of Nancy Steiner of DAA Media + Marketing, the number of top female executives leading Top 100 Private Companies rose from nine to 10 The gain was tempered, however, as the total number of executives on the list rose from 120 to 125. Women now account for 8% of leadership in the Capital Region’s most elite companies, up from 7.5% a year ago.
Meet the women leading Top 100 private companies No. 7 Laurie Lipsey Aronson, chair and CEO, Lipsey’s LLC No. 21 Kristin Wall, president and CEO, Louisiana Workers Compensation Corp. No. 23 Polly R. Lemoine, partner, Hollingsworth Richards Automotive Group
Gaye R. Hollingsworth, partner, Hollingsworth Richards Automotive Group No. 28 Terri L. Hicks, president and CEO, The Spine Hospital of Louisiana No. 61 Jill S avard, CEO, Savard Labor & Marine Inc. No. 66 Nancy Steiner, CEO, DAA Media + Marketing No. 72 Ann Lightfoot Heine, C EO, Surgical Specialty Center of Baton Rouge No. 83 Sue Anne K. Cox, owner, Kleinpeter Farms Dairy No. 100 Lela Mae Wilkes, owner and CEO, Brown Eagle
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Top 100 private companies
| geoheat.com
75 NR GLO Resources LLC 6120 Perkins Road, Suite A, Baton Rouge 70810 225-239-5152 | gloresources.com
84 99 Westgate LLC 1355 Beaulieu Lane, Port Allen 70767 225-749-2635 | 800-749-2636 | westgatellc.com
| 800-675-9409 | ces-sses.com
Because we asked for yours …
Melara Enterprises LLC publishes Business Report, 225, inRegister, and 10/12 Industry Report; the Daily Report AM and Daily Report PM e-newsletters; as well as a variety of other online and contract publications. It also operates Studio E, Launch Media and the Business Report Leadership Academy. In 2023, Melara Enterprises’ total revenue was $10,876,285, up 10.50% from $9,842,419 in 2022. As of June 2024, the company had 67 full-time employees, all working in Baton Rouge at the corporate headquarters on Jefferson Highway. Julio Melara is chair of Melara Enterprises.
