Fastest-Growing Private Companies Report 36% Sales Increase

On this year’s list of the fastest-growing private companies headquartered in Orange County, the 45 small, midsize and large businesses reported growing 36% to $13.3 billion during the two-year period ended June 30.

As would be expected, the 16 small companies grew the fastest, 98% to $85 million, while the 21 midsize companies, with revenue between $10 million and $99.9 million, increased 72% to $776 million.

The eight companies, with revenue topping $100 million, while growing at a slower pace of 34%, had the bulk of the sales, $12.4 billion. The two biggest providers of that revenue were Irvine-based Alliant Insurance Services Inc., which climbed 48.2% to $4.5 billion, and Santa Ana’s Foundation Building Materials Inc., which grew 16.6% to $4.9 billion.Alliant, the largest insurance broker in Orange County and one of the largest worldwide, broke its own goal from last year to surpass $4 billion.

“Alliant has achieved exponential growth on the strength of retaining and recruiting top talent, focusing on organic growth, and making strategic acquisitions – then providing the high-quality products and resources required to lead in the marketplace,” Chief Executive Greg Zimmer, who succeeded Tom Corbett at the beginning of 2024, told the Business Journal.

Alliant’s past few years of acquisitions have helped drive the broker’s operations. In October 2023, the firm acquired three different insurance agencies in Oklahoma.

“In acquisitions, Alliant is extremely selective and diligent in evaluating the firms we’re looking to work with – it’s a very purposeful approach to acquiring,” Zimmer said.This year’s growth rate is slightly down from 54% reported on last year’s list.The cutoff was 15% growth, keeping previously prominent growers like KPRS Construction Services Inc. and SA Recycling off the list. A Loan to FlyThe local firm that represented the greatest two-year revenue growth was Stratus Financial LLC in Newport Beach. Ranked in the small companies category, the lending agency for pilots-in-training flew to $9.8 million in revenue for the 12-month period ended June. In 2022, the company recorded around $406,000. “Recognizing the financial barriers that many students face, we provide tailored funding options that allow individuals to pursue flight training without being held back by the high cost of education,” co- founder and Chief Operating Officer Brandon Martini said. “In the past year, we have made significant strides in expanding our network of school partnerships, allowing us to reach even more aspiring pilots,” he added.Stratus has 263 flight school partnerships as of August, compared to the almost 150 schools the firm counted a year ago.The lender also gained new financing last month from Monachil Capital Partners of up to $50 million which will go to originating new loans. Inland Building GrowthIn the midsize category, Orange-based homebuilder RC Hobbs reported 12-month revenue of $66.5 million ended June, showing a 639.3% increase from 2022 figures.

CEO Roger Hobbs attributed the two-year growth to his team’s focus on the Inland Empire market for homebuilding, specifically with first-time homebuyers.”The Inland Empire provides many more land opportunities [being] vacant and underdeveloped. Cities are wanting more homes and are pro- development, Hobbs said.

Anaheim-based general contractor Americo Builders LLC, and list newcomer, pointed to the importance of choosing the clients they best align with to better spur growth.”If they’re just looking for the lowest bidder, they don’t want to partner with us to build the project together,’ President Chris Kent said. “We like to work from the same side of the table. If we don’t see that, we typically won’t move forward,” he added, Americo recorded an 180.8% increase in 2024 revenue compared to 2022, reporting $69.4 million for the 12-months ended June 30.In the large company category, CBC Bancorp reported 12-month revenue reaching $142.5 million as of June, rising 119.8% over the last two years.

“Most of the big banks are focused on larger companies,” Chairman and CEO Ash Patel said. “Our minority-owned status instead creates a tight focus on the [small] businesses in our community. The bank has also doubled its headcount since 2022 with 201 employees as of June. CBC is expecting even more growth upon the upcoming merger with Oakland-based Bay Community Bancorp.