Deloitte ranks Wisconsin's 75 largest privately-held companies by revenue

By Ricardo Torres 

Leaders of Wisconsin’s largest 75 private companies -- including some newcomers -- will gather Tuesday to celebrate their impact on the economy.  

The Wisconsin 75 list, compiled by Deloitte, ranks the state’s private companies by revenue, and at the top of the list are some very familiar names.  

Northwestern Mutual leads the list, as it has for many years, followed by ABC Supply Company in Beloit, American Family Insurance in Madison, S.C. Johnson and Son in Racine, and U.S. Venture in Appleton. 

Evans Transportation Services in Delafield and VJS Construction Services in Pewaukee are on the list for the first time. 

The companies on this list come from a variety of sectors including banking, packaging, food processing, construction, manufacturing, transportation and more.  

Whether it’s Uline in Kenosha County, Quad/Graphics in Sussex, or Kwik Trip at almost every intersection and freeway exit in the state, these companies have contributed to the state economy in a variety of ways. 

More than 321,000 workers are employed by the companies on the list.  

Deloitte surveys each of the companies and will present its findings during a gathering Tuesday at O'Brien Hall, home of Marquette University's College of Business Administration.

PJ DiStefano, Wisconsin managing partner for Deloitte, said when evaluating the local economy, “it really depends on who you’re talking to.”

“I think business owners would say their business for the most part is doing well. They certainly have challenges, cost related challenges. Which largely have them focused on things like productivity and cost reduction,” DiStefano said. “The end markets are probably performing fairly well, but that depends on what industries that you play in.” 

A similar sentiment can be felt on an individual level.  

“If you’re a well-paid executive here in Wisconsin, you’re probably feeling pretty good. You’ve got money invested in the markets; the markets have performed really well over the last 12 months or so,” DiStefano said.

“If you’re, I’d say the preverbal ‘average Joe,’ I think it’s a different story. You’re concerned about your job, maybe, in some pockets. You’re concerned about what inflation has done to your ability to put food on the table and afford rent.” 

DiStefano said the state’s economy is doing well, overall, but “it could be doing better.” 

“It’s not as frothy as it was two or three years ago. But it is doing well,” DiStefano said.  

As for the companies on the list, the overwhelming majority are repeat winners. DiStefano said the repeated recognition is a testament to how well run each of them are.  

“They have really good boards of directors, for the most part. They have very seasoned executive teams. They have good succession and training programs for employees ... I think that keeps them at the top of the list, keeps them on the list year after year.”

As part of the Wisconsin 75 event, Deloitte gives special recognition to several companies.

Menasha Corp. honored for community involvement

Menasha Corp. started as a wood pail factory in 1849 and has since grown to become a successful family-owned manufacturing company. Menasha Corp. used its experience in packaging and shipping during the 2020 coronavirus pandemic by preparing and sending millions of COVID-19 test kits to retailers across North America. 

In 2024, Menasha Corp. awarded $6 million in grants to Christine Ann Domestic Abuse Services, Elisha D. Smith Public Library, Trout Museum of Art, and Jefferson Park in Menasha. 

Hunzinger Construction recognized for Diversity, Equity and Inclusion

Sports and music fans enjoy going to Fiserv Forum or The American Family Insurance Amphitheater on Milwaukee’s Lakefront, but few realize those projects were built by Hunzinger Construction Company.  

The Brookfield company, wich has been in business since 1907, focuses on green construction practices and the most modern technology available in the industry. Hunzinger touts its record for using diverse contractors on our projects and is responsible for over $530 million in direct contracts to minority, women, or disadvantaged businesses in Wisconsin. 

Innovation award: The Boelter Companies 

Based in Waukesha, The Boelter Companies serves restaurants, breweries and distilleries. The 90-year-old company helps design and build kitchens, cafeterias and bars for companies, schools, universities. It even helped build the Barrel Yard restaurant at American Family Field.  

Succession: ETC (Electronic Theater Controls) 

ETC is going to be celebrating it’s 50th anniversary next year as a premier lighting and display company with projects around the world.

Headquartered in Middleton, ETC has provided the lighting equipment for venues like the Soho Theater in London, New National Theatre in Tokyo, French TV, Hales Corners Lutheran Church, Carnegie Hall in Scotland, and the Milwaukee Symphony Orchestra. 

Green Bay-based KI honored for sustainability

Based in Green Bay, KI has been manufacturing unique furniture since the 1940s. In recent years it has been focusing on sustainability with the largest solar photovoltaic system in northeast Wisconsin, to emphasize responsible manufacturing practices.  

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