Top private companies: the big get bigger

South Florida CEO, July, 2004 by Rochelle Broder-Singer

South Florida's private companies are growing larger. This year, the smallest of the Top Private Companies had $76 million in revenues for 2003; last year, the smallest company on the list had only $68 million in revenues for 2002. The biggest of the big--No. 1 JM Family Enterprises--handily maintained the top ranking it had last year, even though revenue grew just 1 percent.

One of the largest private companies in the United States, JM is also a well-known name around South Florida. Some other names on this list, such as fast-food chain Burger King Corp. (No. 11), retailer BrandsMart USA (No. 17) and law firm Greenberg Traurig (No. 22) are also recognizable. The same cannot be said of most of the companies you'll see here. Few outside their industries have heard of Purity Wholesale Grocers (No. 6), Associated Grocers of Florida (No. 18), Cheney Brothers, Inc. (No. 37) or Terrace Food Group, Inc. (No. 200). Those wholesale grocery and food distributors play a key, behind-the-scenes role in our daily lives.

Private companies are notoriously circumspect about their revenues. Therefore, much of the data is compiled from public and private sources and staff research. It is a snapshot of 2003 and the local businesses that make up South Florida's economy.

Burger King Corp.

* Is it Ugoff? The fictional handbag designer is part of Burger King's new fire-grilled salads campaign. Or is it the grilled shrimp going on the salads? Burger King's hamburgers have not changed in recent years, yet in May the Miami-based fast-food chain's sales hit their highest mark in more than four years. Franchisee same-store sales were up 7.2 percent in May. That comes on the heels of an estimated $1.1 billion in revenues in 2003, enough to snag the No. 11 spot on this list.

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For the first time in years, consumers are actually talking about the company's advertising. That was BK's hope when, in January 2004, it chose Coconut Grove-based Crispin Porter Bogusky as its new lead creative advertising agency. BK continues to fight the "burger wars" at more than 11,220 restaurants in 60 countries.--Giannina Smith

#11

Spirit Airlines

* During the past 13 years, this upstart airline has taken off. In 2003, revenue reached $450 million--more than double what it was just five years ago. Spirit, the largest privately held air carrier in the US, is No. 27 on the Top Private Companies list. Although Spirit only serves 16 cities, the airline added its first international destinations in 2003, with service to San Juan, Puerto Rico and Cancun, Mexico. The Fort Lauderdale-based company continues to add employees at both its head-quarters and its hub at Fort Lauderdale-Hollywood International Airport. This year, Spirit is No. 111 on the Top Employers list, with 1,040 South Florida employees in 2003, up from 900 in 2002. CEO Jacob Schorr has his sights set on further expansion. A group of investors, led by Los-Angeles-based Oaktree Capital Management LLC, invested $125 million in Spirit in February. Schoorr used the capital to finance an order of up to 95 new Airbus aircraft to replace the company's current MD-80 fleet.--GS

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#27

Aurafin-OroAmerica

* Diamonds may be a girl's best friend, but they are nothing without the gold to set them in. By acquiring OroAmerica in 2001, CEO Michael Gusky turned this Tamarac-based company into the largest gold jewelry supplier in the US. Aurafin is set at No. 43 on the Top Private Companies list, with approximately $325 million in 2003 sales. It makes more than 5,000 styles of jewelry. And there are diamonds too: the company's gemstone division, Auragem, produces precious and semi-precious gemstone jewelry. Aurafin recently became online jewelry retailer Jewelry.com's exclusive vendor of gold jewelry.--GS

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#43

Sweet Paper Sales Corp.

* Sweet Paper, which recently opened its 11th location (in Boston) works with more than just paper. It is one of the largest wholesalers in the US, distributing hotel, restaurant, janitorial, office and food supplies throughout the Southeastern, Southwestern, and Western US, as well as the Caribbean, Central America and South America. The opening of the Boston distribution center brings the company's total warehouse space to 1.1 million square feet; an e-commerce site makes it "clicks and bricks."

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This $254 million company, No. 57 on the list, started in 1956, when Samuel Scheck opened a small warehouse in Miami and began distributing locally. President Michael Scheck is the third generation to run the business. Scheck is determined to expand. In March 2004, he purchased the assets of Ginsburg Brothers, Inc., a Massachusetts redistributor for the supermarket and party supply industries.--GS

#57

Bio Med Plus, Inc.

* It may seem like a messy job, but somebody has to do it: Bio Med Plus buys fractionated plasma and blood products (from the Red Cross and similar entities) and sells them to hospitals around the US. Founded by husband and wife team Martin and Maria Bradley in 1996, it is now the largest non-contract blood-products provider in the US. Revenue of $184 million landed it at No. 81 on the Top Private Companies list. Time is of the essence in this field, and Miami-based Bio Med offers same-day or next-day delivery, 24 hours a day, 7 days a week. To do so, the company has offices on the east and west coasts, and in January 2004, opened a new distribution center in Houston.--GS