News Summary
North Carolina has released its annual BNC 125 list, showcasing the state’s leading private companies and economic dynamics. The list details revenue figures, highlights new entrants, and notes significant corporate developments. Noteworthy companies include Epic Games and Cornerstone Building Brands, reflecting a diverse ownership landscape. The report also addresses trends in private equity, mergers, and the impact of the energy sector on businesses within the state.
North Carolina Reveals Significant Business Insights in 2025 BNC 125 List
North Carolina has unveiled its annual BNC 125 list, providing a comprehensive overview of the state’s leading private companies and economic landscape. The list highlights the presence and growth of middle-market enterprises, with particular attention to revenue figures, industry sectors, and ownership structures.
Key Companies and Revenue Highlights
This year’s list features 59 companies reporting annual revenues exceeding $300 million, of which 30 surpass the $1 billion mark. The compilation aims to encompass the largest private employers, reflecting a broad spectrum of the state’s economic activity. Revenue estimates are derived from a combination of direct company disclosures, public records, trade publications, and other reliable sources, particularly for companies that do not publicly share their financial data.
Emerging Entrants and Sector Distribution
Among new entrants to the list are:
- Cornerstone Building Brands (Cary) – A distributor specializing in building products.
- Crete United (Charlotte) – A contractor offering construction services.
- Odyssey Logistics (Charlotte) – A transportation brokerage company.
- Lumexa Imaging (Raleigh) – A provider of medical imaging services.
Many of these new players are under the management of private equity firms, signaling ongoing investment interest in North Carolina’s emerging sectors. Conversely, numerous established companies on the list remain family-owned enterprises, emphasizing diversity in business ownership and operational models.
Notable Corporate Developments
Epic Games, based in North Carolina, secured a notable legal victory against Google, enabling its games store to be listed on the Google Play store. With an estimated workforce of over 5,000 employees and a valuation around $31.5 billion as of 2022, the company continues to influence the state’s tech and entertainment sectors.
In leadership changes, Cornerstone Building Brands appointed Gunner Smith as CEO in August 2025, following the resignation of Rosen Lee. The firm remains a prominent player in the building materials industry.
Business Sales and Reorganization Trends
Built on a focus on brick-and-mortar operations, Variety Wholesalers recently acquired 219 Big Lots stores during its reorganization efforts. The company is also shifting to prioritize its physical retail outlets while halting its e-commerce operations.
Meanwhile, Bojangles, owned by private equity investors, is reportedly on the market with an asking price of $1.5 billion. The potential sale is driven by increased consumer interest in chicken-focused fast-food restaurants.
Growth and Ownership Structures
Quality Restaurant Group has expanded significantly since 2017, now operating approximately 350 quick-service restaurants across multiple locations. Nearby, Landmark Builders celebrates its 50th anniversary and has established an Employee Stock Ownership Plan (ESOP), demonstrating a commitment to workforce ownership and stability.
Baker Roofing transitioned to an Employee Stock Ownership Plan as part of its succession strategy, emphasizing employee engagement and long-term corporate stability.
Energy Sector Challenges
Pine Gate Renewables faces challenges amid reduced incentives for alternative energy projects, resulting in layoffs affecting roughly 15% of its workforce. This reflects broader trends impacting renewable energy companies balancing government policies and market conditions.
Housing and Private Equity Influence
There is growing awareness of private equity’s influence in North Carolina’s housing market, particularly in the Raleigh-Cary area. Reports indicate that private equity firms own approximately 35% of apartment units, contributing to ongoing concerns about housing affordability and market dynamics.
Financial and Mergers & Acquisitions Activity
Captrust, headquartered in Raleigh, has been active in mergers and acquisitions, hiring Mike Wunderli to lead these efforts. Since 2006, the company has acquired more than 80 advisory practices, expanding its reach in financial advisory services.
Overall, the 2025 BNC 125 list illustrates a vibrant, evolving business environment in North Carolina, characterized by strong regional growth, strategic mergers, and shifting ownership structures.
Deeper Dive: News & Info About This Topic
HERE Resources
North Carolina Construction Industry Shows Resilience
Construction Industry Faces Significant Workforce Shortage
Construction Conference in Raleigh Addresses Legal and Safety Challenges
Temporary Construction Wall at SouthPark Mall Collapses
Washington Homebuilding Costs Rise Sharply Due to Regulatory and Economic Factors
Charlotte to Host 2026 MLS All-Star Game
Realtor Pleads Guilty to $1.7 Million Wire Fraud Scheme
Cragun’s Resort Completes Major Golf Course Renovation
Small Business Owners Brace for Copper Tariff Impact
Raleigh Welcomes New Sprouts Farmers Market Location
Additional Resources
- Business North Carolina: BNC 125 Top Private Companies 2025
- Charlotte Observer: Business News
- ABC11: Economic Development Partnership of North Carolina
- Government Technology: James Weaver Leaving NC CIO Post
- News & Observer: Real Estate News
- Wikipedia: North Carolina
- Google Search: North Carolina business news
- Google Scholar: North Carolina economy
- Encyclopedia Britannica: North Carolina
- Google News: North Carolina news
Author: STAFF HERE RALEIGH WRITER
RALEIGH STAFF WRITER The RALEIGH STAFF WRITER represents the experienced team at HERERaleigh.com, your go-to source for actionable local news and information in Raleigh, Wake County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the North Carolina State Fair, Raleigh Arts Festival, and the Hopscotch Music Festival. Our coverage extends to key organizations like the Greater Raleigh Chamber of Commerce and Visit Raleigh, plus leading businesses in technology and education that power the local economy such as Red Hat and NC State University. As part of the broader HERE network, including HEREAsheville.com, HERECharlotte.com, HEREGreensboro.com, and HEREOBX.com, we provide comprehensive, credible insights into North Carolina's dynamic landscape.
