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Crain’s Lists 2025 Detroit’s Largest Private Companies

The skyline of Detroit illustrating the diverse economic landscape as highlighted by Crain's list of largest private companies.

News Summary

Crain’s has released its annual ranking of metro Detroit’s largest privately held companies, revealing a combined revenue of over $156 billion for 2024. Penske Corp. tops the list with $44 billion in revenue, though it faced challenges, including layoffs. The absence of Lineage Inc., which went public last year, marks a notable change in the rankings. This list provides insights into the economic landscape of Southeast Michigan, presenting vital data for stakeholders and businesses navigating the region’s evolving market.

Detroit – The 2025 edition of Crain’s list of metro Detroit’s largest privately held companies has been released, showcasing significant financial data from the region’s economic landscape. Notably, these 200 firms boast a combined revenue exceeding $156 billion for the year 2024.

Penske Corp., based in Bloomfield Hills, secured the top spot on this prestigious list, reporting a remarkable $44 billion in revenue, reflecting a growth of 2.3% from the previous year. The company is recognized for its diverse operations across several sectors, including retail automotive, truck leasing, transportation logistics, and professional motorsports. Despite this growth, Penske Corp. took a challenging step in cutting paychecks for 1,485 full-time workers based in Southeast Michigan last year, highlighting the complexities of business operations even amid financial success.

Moreover, while Penske Corp. is privately held, it is important to note that some of its subsidiaries, such as Penske Automotive Group, are publicly traded entities with Penske Corp. maintaining majority ownership.

Noteworthy in this year’s list is the absence of Lineage Inc., a Novi-based company that specializes in temperature-controlled storage and logistics. Previously ranked fourth, Lineage went public in July 2023, which accounts for its exclusion from the list. Following its initial public offering, Lineage’s shares have diminished significantly, experiencing a 40% decline since the IPO, a situation that underscores the volatility often inherent in newly public companies.

The list compiled by Crain’s provides a comprehensive look into the largest private companies operating within Southeast Michigan, particularly in Wayne, Oakland, Macomb, Livingston, and Washtenaw counties. The data predominantly comes from the companies themselves, although estimates are occasionally made based on current industry trends and reports.

Subscribers to Crain’s All-Access can benefit from detailed insights, including company profiles that encompass information on revenue, employee counts, and additional contact details. Furthermore, the publication emphasizes trends and shifts within the local business community, vital for stakeholders looking to navigate the evolving economic landscape of metro Detroit.

This year’s ranking serves not only as a performance benchmark for the largest firms in the area but also illustrates the broader economic conditions impacting job security and business stability for many workers in the region. As many seek to understand the undercurrents of Detroit’s business environment, the numbers reveal both successes and challenges faced by companies and their employees.

As the business climate continues to shift, staying informed through resources like the Crain’s list is essential for understanding the intricacies and dynamics of the local economy. The data offered provides a foundation for further analysis and planning as companies and their workforce adapt to the demands of a changing market.