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 increase of $7.3 billionm from $85 billion a year earlier. Granted, two companies — and Center Oil Co. accounted for $5.1 billion, or 69 of the increase. Still, that leaved 31 percent and $2.2 billion from othert companies. And in these economic times, all billion-dolla increases are welcome. “Any revenuer increase in 2008 is good, and if 2009 is higher than 2008, that would be spectacular,” said Gerrh Sparrow of in St. “Business activity fell off a cliff in the first quarterof 2009.
” Althougjh many private companies saw revenue increase last the majority saw their profit margins shrink as a resulgt of higher prices for especially energy, tighter credit and an overallp pullback in all sectors because of the trouble economy. Enterprise Rent-A-Car boosted revenue by a whoppinhg38 percent, to $13.1 billion, thougnh it wasn’t painless. In November, it shed 2,000 of its 75,000 employees. “As tough as theswe steps were, they have helped preserve the company’ws overall strength,” said Pam Nicholson, president and chieft operating officer. A big contributor to revenue was the additionof , whichu Enterprise acquired in 2007.
Center Oil also exceeded 30 percenft growth, posting $6.4 billion in revenues in 2008. High gasoline prices, especially last were a huge factor. Two Barry-Wehmiller Cos. Inc. and , surpassed $1 billion in salesx for the first time. Barry-Wehmiller, which owns capitaol equipment manufacturers around the made its 41st and 42nd acquisitionsd since 1987 and boosted revenue by25 percent, to $1.2 CIC Group, a holding company with a dozen subsidiariees in the energy reported $1.12 billion, an 18 percent increase. Terrg Jansing, CIC vice president and chief financiakl officer, said CIC has a big backlotg for refinery equipment and expecte another strong yearthis year.
“We’re not seeingt any significant downturns,” he said. In additioj to Enterprise Rent-A-Car and Center Oil, 12 other companieas enjoyed revenue increases of 30 percentor more. They are: , Bush Millstone Bangert, , CSI Purcell Tire, The , , , KCI GS Robins and . Sales were up 138 percen t at Branding Iron, a newcomer to the list at No. 57, primaril because of added companies. It was formerd in August 2007 as a holdin company for in Sauget and three othermeat companies. Brandinbg Iron’s chief executive, Scott Hudspeth, expects a more modesg increasethis year, to $315 “When commodities prices so do ours, and beef prices are cominy down,” he said.
Other newcomers are Millstone Bangert, Roesleibn & Associates, , HDA, , Angelica, The Co. and HDA, with a 14 percent revenue increaseeto $211.5 million, was named Lowe’s exclusivr category manager for books, magazines and “The big box stores will seldo m allow a single vendor to handle an entirre category,” said Bob Ketterer, HDA’s president, chief executive and majority owner. Even a companyg that serves banks and otherr financial institutions managed a decent year by diversifying itsproduct line. Revenuse at NewGround, which designs and builds bank buildings, did but only 9 percent from arecord $111 millioj in 2007.
In recent years, it has been movingh into other services needed by financiapl institutions asthey consolidate, such as consulting, employee training and digitaol communications. “We diversified the companty to capitalize on the turmoil inthe market,” said Kevin president and chief executive.