{"id":8934,"date":"2013-10-18T11:42:36","date_gmt":"2013-10-18T15:42:36","guid":{"rendered":"http:\/\/www.portlandmonthly.com\/portmag\/?p=8934"},"modified":"2013-10-18T11:42:36","modified_gmt":"2013-10-18T15:42:36","slug":"the-maine-100-2013","status":"publish","type":"post","link":"https:\/\/www.portlandmonthly.com\/portmag\/the-maine-100-2013\/","title":{"rendered":"The Maine 100"},"content":{"rendered":"

October 2013 | view this story as a .pdf<\/a><\/p>\n

The Maine 100<\/h3>\n

Commentary by Eric Livada
\nData from Dun & Bradstreet<\/p>\n

Welcome to our version of the Fortune 500<\/em> or Forbes 500<\/em>. Except it\u2019s Maine-headquartered businesses in pleasing proportion. After all, what\u2019s wrong with rooting for the home team?<\/h3>\n

“The top 10 firms in the Maine 100 are a pretty sincere pumpkin patch,\u201d says Evan Livada of Livada Securities. \u201cOur filter here\u2013listing Maine-headquartered firms in descending order of total gross revenues from Dun & Bradstreet calendar year 2012 totals\u2013has a value because it uniquely clarifies things.<\/p>\n

\u201cMany of these businesses draw energy from being locally inspired. At $70.7 million, consider Wright-Ryan Construction<\/strong>. Tom Wright and John Ryan were childhood friends on an island off the coast of Maine, sharing summer vacations. Thirty years later, they\u2019ve grown it into one of the largest construction firms in New England. They do fantastic work. Tom is doing community service and philanthropy, so John is running things now.<\/p>\n

\u201cThen there\u2019s Johnny\u2019s Selected Seeds<\/strong>, at No. 47. That\u2019s $38 million in catalog and website sales\u2013not bad for seed money. They started in 1973, so this is their 40th year, and you get a sense of the spirit in this place when you realize it\u2019s a point of pride for them to say they\u2019re 100-percent employee-owned. With 130 full time employees, they sell seeds and tools and information to farmers and garden planters all over the world.<\/p>\n

\u201cAt No. 48, Alternative Manufacturing<\/strong> in Winthrop is almost bewitching because of their sophisticated awareness of who they are, where they are. Founded in 1989, they provide contract manufacturing for the electronic middle market. You\u2019ve got to love them for manufacturing things and stamping them with Made in Maine and Made in USA. But it\u2019s this quote that\u2019s so fascinating I find myself replaying it slowly in my mind: \u2018AMI is located at the crossroad where the lowest labor cost in the world\u2019s largest market intersects with a local work force highly skilled in the electronics industry.\u2019 Translation: Maine is at the middle of a world they\u2019ve taken the trouble to discover, with low costs and highly skilled workers. Talking about being in the right place at the right time. When Digital Equipment in Augusta went out of business, they were very, very big. AMI got a jolt of energy by jumping in and tapping into that skilled work force.<\/p>\n

\u201cIt\u2019s so much about knowing exactly how and when to jump in and fill a need. The smaller stores in malls, because not everybody wants to shop separately at Dick\u2019s Sporting Goods, are paying off for Olympia Sports<\/strong>. I\u2019ll just go in here for a minute. People want to buy Patriots jerseys. Well, maybe not Aaron Hernandez\u2026<\/p>\n

\u201cI want to pat myself on the back for what\u2019s happened with the dark horse I offered last year, the casino. Now it\u2019s No. 31, at $50 million (B.B. Development<\/strong>, Oxford). Have you been out there? It\u2019s in the middle of nowhere. You see a street light. Then you see a building that looks like an overgrown Bugaboo Creek. What they\u2019ve accomplished there crystallized when Churchill Downs announced they were putting down a $160 million bet and buying it (I think the transfer will happen at the close of this year). Bob Bahre and his son Gary own 30 percent of it. They\u2019re the former owners of the very successful New Hampshire International Speedway and Oxford Plains. Investors\/execs Steve Barber, the former president of Barber Foods; Bob Lally (Mount Abrams); and Peter Martin (who lobbied for them in Augusta) have got to be pretty happy. Maybe that\u2019s why I see Peter Martin smiling whenever I see him. The downside? In my opinion, across the board, the people who gamble are mostly the ones who aren\u2019t supposed to be gambling. All you have to do is buy an Italian sandwich at a local variety store and watch the cash register, and you\u2019ll see.<\/p>\n

\u201cI have to say, I think it\u2019s terrific we\u2019re connecting with Yarmouth, Nova Scotia, with a great new ferry deal. Why wouldn\u2019t they want to connect with us? When you drive down Commercial Street, you\u2019d think they\u2019re giving out $100 bills or something. There\u2019s much activity now, even when cruise ships aren\u2019t in port. They\u2019re doing the right things, and there\u2019s a great mix for a waterfront city. Eric Cianchette selling his pier, Pierce Atwood moving in\u2026Portland is going to continue to attract an awful lot of people, not just tourists. After what that hedge fund did to Mercy Hospital this year, maybe fewer doctors\u2026<\/p>\n

\u201cThe dark horse this year is IDEXX Labs<\/strong> being bought by somebody big. Here they are at 1.38 billion in revenues. I think an Abbott Labs or a big pharmaceutical company is going to jump in this year. There are no secrets in the world, and they\u2019ve had negotiations in the past, but interest rates are going up, you\u2019re seeing a lot of merger and acquisition activity, and I think IDEXX is primed. IDEXX is a great Maine-based company. Two weeks ago they bought a company in Brazil. I don\u2019t own the stock or anything, but at $100 a share\u2013it was nice when it was $8!\u201d<\/p>\n

Company Name, Primary City,
\nRevenue (US Dollars, million),<\/p>\n

1. L.L. Bean, Freeport, $1,520<\/p>\n

2. IDEXX Laboratories, Westbrook, $1,293.34<\/p>\n

3. Cianbro Companies, Pittsfield, $649.141<\/p>\n

4. WEX, South Portland, $623.151<\/p>\n

5. Jackson Laboratory, Bar Harbor,$231.52<\/p>\n

6. Olympia Sports, Westbrook, $183.952<\/p>\n

7. Bangor Bancorp, Bangor, $144.868<\/p>\n

8. Lincoln Paper and Tissue, Lincoln, $141.224<\/p>\n

9. Maine Employers\u2019 Mutual Insurance Co., Portland, $126.374<\/p>\n

10. Camden National Corporation, Camden, $114.359<\/p>\n

11. Oakhurst Dairy, Portland $99.05<\/p>\n

12. Fabian Oil, Oakland, $90.647<\/p>\n

13. Twin Rivers Paper Company, Madawaska, $87.5<\/p>\n

14. Redlon & Johnson, Portland, $87.4<\/p>\n

15. Hutchins Motors, Augusta, $84.2<\/p>\n

16. Hancock Lumber Company, Casco, $76.4<\/p>\n

17. North Country Associates, Lewiston, $71.2<\/p>\n

18. Wright-Ryan Construction, Portland, $70.722<\/p>\n

19. Talmage Solar Engineering, Arundel, $70<\/p>\n

20. Everett J. Prescott, Gardiner, $66<\/p>\n

21. R. H. Reny, Newcastle, $65.269161<\/p>\n

22.The First Bancorp, Damariscotta, $63.103<\/p>\n

23. Kennebunk Savings Bank, Kennebunk, $59.9<\/p>\n

24. Woodard & Curran, Portland, $59.4<\/p>\n

25. Bar Harbor Bankshares, Bar Harbor, $58.547<\/p>\n

26. Machias Savings Bank, Machias, $58.378<\/p>\n

28. UPM Madison, Madison, $58.2<\/p>\n

29. Butler Brother\u2019s Supply Division, Lewiston, $51.188<\/p>\n

30. Tex Tech Industries, Portland, $50.603<\/p>\n

31. Patriot Mortgage, Windham, $50<\/p>\n

(TIE) Bb Development, Oxford, $50<\/p>\n

33. Norway Bancorp, Norway, $49.714<\/p>\n

34. Marden’s, Waterville, $49.7<\/p>\n

35. Stonewall Kitchen, York, $49.4,<\/p>\n

36. Hammond Lumber Company, Belgrade, $49.3<\/p>\n

37. Dysarts Service, Hermon, $48.8<\/p>\n

38. Northeast Bancorp, Lewiston, $48.768<\/p>\n

39. Southworth International Group, Falmouth, $47.2<\/p>\n

40. Hardwood Products Company, Guilford, $42.541489<\/p>\n

41. Johnson & Jordan, Scarborough, $41.86<\/p>\n

42. SACO AUTO HOLDINGS, Saco, $41.1<\/p>\n

(TIE) Daigle Oil Company, Fort Kent, $41.1<\/p>\n

44. Key Plaza Holdings LP, Winthrop, $40.8<\/p>\n

45. Gorham Savings Bank, Gorham, $40.337<\/p>\n

46. Woodland Pulp, Baileyville, $39.4<\/p>\n

47. Johnny\u2019s Selected Seeds, Winslow, $38.8<\/p>\n

48. Alternative Manufacturing, Winthrop, $38.5<\/p>\n

49. Reed & Reed, Woolwich, $38.2<\/p>\n

50. John Lucas Tree Expert, Falmouth, $38.121<\/p>\n

51. Saco & Biddeford Savings Institution, Saco, $37.840<\/p>\n

52. Elmet Technologies, Lewiston, $37.1<\/p>\n

53. Bancroft Contracting Corporation, South Paris, $36.898<\/p>\n

54. Maine Secure Composites, Orono, $36.3<\/p>\n

(TIE) Nappi Distributors, Gorham,$36.3<\/p>\n

56. Kennebec Savings Bank, Augusta, $36.077<\/p>\n

57. Pierce Atwood, LLP, Portland, $35.4<\/p>\n

58. WEATHERVANE SEAFOODS, Kittery, $35<\/p>\n

(TIE) Patriot Mutual Insurance Company, Brunswick, $35<\/p>\n

(TIE) Shaw Brothers Construction, Gorham, $35<\/p>\n

61. Montreal, Maine & Atlantic Railway, Hermon, $34.9<\/p>\n

62. The VIA Group, Portland, $34.7<\/p>\n

63. Sargent Corporation, Stillwater, $33.7<\/p>\n

(TIE) Isf Trading, Portland, $33.7<\/p>\n

65. Maine Oxy-Acetylene Supply Company, Auburn, $33.4<\/p>\n

(TIE) Melton Sales & Service, Milford, $33.4<\/p>\n

67. Wadleigh\u2019s, Hallowell, $32<\/p>\n

68. ANDROSCOGGIN BANCORP MHC, Lewiston, $31.9<\/p>\n

69. Cdn-Usa, South Portland, $31.1<\/p>\n

70. Moose River Lumber Company, Moose River, $30.664<\/p>\n

71. Mainetoday Media, Portland, $30.5<\/p>\n

72. Katahdin Trust Company, Patten, $30.165<\/p>\n

73. Bath Savings Institution, Bath, $30.066<\/p>\n

74. Penobscot McCrum, Belfast, $30<\/p>\n

75. PM Construction Co., Saco, $29.994<\/p>\n

76. Pride Manufacturing Company, Burnham, $29.7<\/p>\n

77. Hussey Corporation, North Berwick, $29.2<\/p>\n

78. R. J. Grondin & Sons, Gorham, $29.1<\/p>\n

79. Residential Mortgage Services, South Portland, $28.6<\/p>\n

80. Bank of Maine, Gardiner, $28.166<\/p>\n

81. Vision Direct, Portland, $28<\/p>\n

82. Paris Farmers\u2019 Union, Oxford, $27.904<\/p>\n

83. John F. Murphy Homes, Auburn, $27.876<\/p>\n

84. GreenPages, Kittery, $27.6<\/p>\n

85. The Baker Company, Sanford, $27.1<\/p>\n

86. Berry, Dunn, McNeil & Parker, Portland, $25.4<\/p>\n

87. Kris Way Truck Leasing, South Portland, $25.2<\/p>\n

88. Miller Industries, Lisbon Falls, $25.1<\/p>\n

89. County Super Spuds, Mars Hill, $25<\/p>\n

(TIE) W. D. Matthews Machinery Co., Auburn, $25<\/p>\n

91. Maritime Energy, Rockland, $24.5<\/p>\n

92. Wasco Products, Wells, $24.342<\/p>\n

93. Oxford County Telephone & Telegraph Co., Lewiston, $24.2<\/p>\n

94. Dennis Beverage Company, Bangor, $24.1<\/p>\n

(TIE) Red Shield Acquisition, Old Town, $24.1<\/p>\n

96. Wright-Pierce, Topsham, $23.8<\/p>\n

(TIE) Maine Drilling and Blasting, Gardiner, $23.8<\/p>\n

98. Nickerson & O\u2019Day, Brewer, $23.07<\/p>\n

99. Vulcan Electric Company, Porter, $22.6<\/p>\n

100. Rousseau Entreprises, Inc., Brunswick, $22.5<\/p>\n

The Key to the Numbers<\/p>\n

Companies listed on the Maine 100 must be for-profit and headquartered in Maine. Non-profits, quasi-governmental agencies, and companies funded in part with public money have been culled from this list. All numbers were obtained by Dun & Bradstreet and represent 2012 gross revenues. (Revenue figures are estimates or reports for Calendar Year 2012. Please contact D&B, not Portland Magazine<\/em>, for error corrections.)<\/p>\n","protected":false},"excerpt":{"rendered":"

October 2013
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