St. Louis' top private firms exhibit growing pains - Memphis Business Journal:

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percent more revenue in 2008 than they did in2007 $92.3 billion, an increases of $7.3 billion from $85 billioj a year earlier. Granted, two companies — and Centert Oil Co. — accounted for $5.1 or 69 percent, of the Still, that leaves 31 percent and $2.2 billion from otheer companies. And in these economic times, all billion-dollar increasesa are welcome. “Any revenue increass in 2008 is good, and if 2009 is highed than 2008, that would be spectacular,” said Gerrt Sparrow of in St. Louis. “Business activity fell off a clifgf in the first quarterof 2009.
” Although many private companies saw revenue increase last the majority saw their profit margins shrink as a resulf of higher prices for commodities, especially tighter credit and an overal pullback in all sectors because of the troubled Enterprise Rent-A-Car boosted revenue by a whopping 38 percent, to $13.2 billion, though it wasn’t painless. In November, it shed 2,000o of its 75,000 employees. “As tougyh as these steps were, they have helpecd preserve the company’s overall strength,” said Pam Nicholson, presidenrt and chief operating officer. A big contributor to revenu e was the additionof , whicu Enterprise acquired in 2007.
Cented Oil also exceeded 30 percenrt growth, posting $6.4 billion in revenur in 2008. High gasolinew prices, especially last summer, were a huge Two companies, Barry-Wehmiller Cos. Inc. and , surpassed $1 billion in saleds for the first time. which owns capital equipment manufacturers aroundthe world, made its 41st and 42nd acquisitiond since 1987 and boosted revenue by 25 to $1.2 billion. CIC a holding company with a dozenn subsidiaries in the energy reported $1.
12 billion, an 18 percent Terry Jansing, CIC vice president and chiegf financial officer, said CIC has a big backlog for refineruy equipment and expects another strong year this “We’re not seeing any significant downturns,” he said. In additionm to Enterprise Rent-A-Car and Cente Oil, 12 other companies enjoyed revenue increases of 30 percentyor more. They are: , Bush Millstone Bangert, , CSI Leasing, Purcell Tire, The , , , KCI GS Robins and . Sales were up 138 percengt at Branding Iron, a newcomer to the list at No. 57, primarilty because of added companies. It was formed in Augus t 2007 as a holding company for in Sauget and threed othermeat companies.
Branding Iron’s chief Scott Hudspeth, expects a more modest increase this to $315 million. “When commodities price drop, so do ours, and beef pricea are coming down,” he Other newcomers are Millstone Bangert, Roesleihn & Associates, , HDA, , Angelica, The Co. and HDA, with a 14 percent revenue increaseto $211.5 million, was named Lowe’w exclusive category manager for magazines and maps. “The big box stores will seldom allow a single vendor to handle an entire saidBob Ketterer, HDA’s president, chier executive and majority owner.
Even a company that servesx banks and other financial institutions managed a decent year by diversifying itsproducy line. Revenue at NewGround, which designsa and builds bank did decline, but only 9 percent from a record $111 milliom in 2007. In recent years, it has been movinb into other services needec by financial institutions asthey consolidate, such as employee training and digital communications. “Wde diversified the company to capitalize on the turmoil in the saidKevin Blair, president and chief executive.