Asian-owned companies dominate Crain's list of 25 largest minority-owned firms

Five new companies made it to the top 25 of Crain’s list ranking Chicago’s largest minority-owned businesses: Sayers Technology, SDI Presence, Wells Plumbing & Heating Supplies, Elements Global Services and Cabrera Capital Markets.

Three out of these five companies are Asian-owned. This year’s list features 10 majority Asian-owned companies in the top 25 and 16 on the full digital list, which includes 52 companies.

Sayers Technology, an Asian-owned IT consulting firm, comes in at No. 9 on the list. Crain’s estimates the company yielded about $128.6 million in revenue last year. The tech firm was originally a Black-owned business, founded by former Chicago Bears great Gale Sayers. The company’s current majority owner is Virgo Capital, a certified minority-owned business enterprise based in Austin, Texas.

SDI Presence, No. 12 on the list, saw a 60.2% increase in revenue from 2019. The Asian-owned IT firm brought in $79.6 million in revenue in 2020. Meanwhile, Wells Plumbing & Heating Supplies saw a 5.7% decrease in revenue, bringing in $33 million last year. The 100% Asian-owned importer and distributor of plumbing and heating products ranked No. 22 on this year’s list.

Elements Global Services is one of 12 majority Black-owned companies in the top 25 and one of 21 on the full digital list. The tech firm ranks No. 13 on our list, with $76 million in revenue.

The fifth new company on the list is Cabrera Capital, coming in at No. 18. The Latino-owned company is one of three on Crain’s top 25 and one of 14 on the full list. The investment firm estimates $46 million in revenue for 2020.

Crain’s reported that 2020 was a breakout year for minority-owned financial firms. In addition to Cabrera Capital, Loop Capital jumped from last year’s No. 10 to this year’s No. 8 with a total of $170 million in revenue. The Black-owned investment firm saw the largest increase in revenue from 2019—a whopping 86.8%. 

Asian-owned MAT Holdings and Raja Foods hold their first and second places, respectively. Even with a 7.9% decrease in revenue from 2019, MAT Holdings took in $1.75 billion in 2020.

The full Excel version of the list features 52 minority-owned companies with 2020 revenue over $2 million. To download the full list, become a Crain's Data Member and head over to our Data Center.