Indiana 100 2015

Welcome to IBJ’s annual review of the state’s largest public and private companies. You’ll also find interviews with business leaders and interesting stats about some of the state’s top firms.

Barge builder embraces stability

Running a shipping and boat-building company in Indiana sounds about as logical as putting a fish farm in Death Valley. But there’s nothing far-fetched about it to Mark Knoy, CEO of Jeffersonville-based American Commercial Lines Inc. Indeed, it could turn out to be quite lucrative. At least that’s the hope of Knoy and Los Angeles-based private equity firm Platinum Equity, which bought the place along the Ohio River in 2010.

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Click below to see where the state’s largest companies are headquartered. Also see who made the most in bonuses, and who is coming and going in C-level offices.

Largest public companies over the years

A leviathan health insurer has been the biggest company in the state for a decade.

Largest public companies over the years

Indianapolis-based health insurer Anthem Inc. has stood atop the largest public companies in the state for the past decade.

2014 Anthem Inc.*$73.9 billion
2013 WellPoint Inc.$71.0 billion
2012 WellPoint Inc.$61.7 billion
2011 WellPoint Inc.$60.7 billion
2010 WellPoint Inc.$58.8 billion
2009 WellPoint Inc.$61.2 billion
2008 WellPoint Inc.$61.3 billion
2007 WellPoint Inc.$60.1 billion
2006 WellPoint Inc.$56.1 billion
2005 WellPoint Inc.$45.1 billion

*renamed Anthem Inc. from WellPoint Inc. in 2014
Source: IBJ research

New executives

A well-known minority-owned company hasn’t filled key positions several months after the death of its founder.

New executives

These companies saw leadership changes.

CompanyCurrent executiveFormer executive(s)
Calumet Specialty ProductsBill Hatch, CEOF. William Grube, CEO
Defender DirectJim Boyce, president, CEODavid P. Lindsey, president, CEO
KAR Auction ServicesJames P. Hallett, chairmanBrian T. Clingen, chairman
Kimball InternationalRobert F. Schneider, CEO, chairmanJames C. Thyen, CEO; Douglas A. Habig, chairman
Mays Chemical Co. Inc.chairman, CEO positions not filledWilliam G. Mays, chairman, CEO(1)
Palmer Trucks Inc.(2)John A. Nichols, CEOJohn A. Nichols, president
Remy InternationalJohn H. Weber, chairmanWilliam P. Foley II, chairman

(1) Mays died in December.
(2) formerly Kenworth of Indianapolis Inc.
Source: IBJ research

Largest employers

The company that racks up the most revenue is not the state’s largest employer.

Largest employers

Cummins has more employees than any other company headquartered in the state.

1. Cummins Inc.54,600
2. Anthem Inc.51,500
3. Eli Lilly and Co.39,136
4. Berry Plastics Corp.16,000
5. The Finish Line Inc.14,597
6. Zimmer Holdings Inc.10,000
7. KAR Auction Services Inc.  9,450
8. Thor Industries  9,400
9. NiSource Inc.  9,215
10. Allegion  8,500

*full-time equivalent
Source: IBJ research

Steps backward

Two major ag cooperatives saw revenue dip slightly in 2014.

Steps backward

CountryMark, which refines the oil it pumps from the ground in southwestern Indiana and Illinois and sells as diesel fuel to farmers, was hurt by falling fuel prices. Avon-based Co-Alliance, which sells fuel and operates grain elevators, also saw revenue slip due to falling commodity prices.

CountryMark$1.7 billion $1.6 billion
Co-Alliance$1.1 billion$950 million

Source: IBJ research

In transition

Six stalwarts left the lists of largest companies last year—each time due to acquisitions.

In transition

These companies were on the 2014 list of largest companies, but are not on the 2015 list.

CompanyHeadquarters2013 revenue(1)2014 rankWhy left the list
Biomet Inc.Warsaw    $3.1 billion  1being acquired*
Hunt Construction GroupIndianapolis    $1.2 billion  6          acquired
Herff Jones Inc.Indianapolis   $737 million18          acquired
Stoops FreightlinerIndianapolis$323.1 million34          acquired
Symmetry Medical Warsaw$400.0 million35          acquired(2)
HP ProductsIndianapolis$180.0 million45          acquired

*In process of being acquired by Zimmer Inc.
(1) 2014 rankings were based on the most recent full-year revenue data, 2013.
(2) Symmetry sold its OEM Solutions business, then renamed itself Symmetry Surgical and moved to Nashville, Tennessee.
Source: IBJ research

Executive bonuses

A big Indianapolis company churned out the lion’s share of bonuses for public company execs.

Simon’s bonus bonanza

Indianapolis-based Simon Property Group Inc. dealt out most of the highest bonuses to Hoosier executives last year.

NameCompanyTitle2014 bonus
David SimonSimon Property Group Inc.chairman, CEO$3,500,000
Richard SokolovSimon Property Group Incpresident, COO$1,380,000
John KiteKite Realty Group Trustchairman, CEO$1,245,245
James BarkleySimon Property Group Inc.secretary, general counsel   $948,750
Andrew JusterSimon Property Group Inc.SVP, CFO(1)   $690,000
Joseph DeVitoBaldwin & Lyons Inc.president, CEO, COO   $631,644
David ContisSimon Property Group Inc.senior EVP, president, Simon Malls   $500,000
Patrick WalshEmmis CommunicationsEVP, CFO, COO   $500,000
Thomas McGowanKite Realty Group Trustpresident, COO   $456,574
Bryan BedfordRepublic Airways Holdings Inc.president, CEO   $415,000
Daniel SinkKite Realty Group TrustEVP, CFO   $350,278
Timothy EckersleyAllegion PlcSVP, president of the Americas region   $200,000
Lawrence DeweyAllison Transmission Inc.chairman, president, CEO   $150,000
David GraziosiAllison Transmission Inc.CFO, treasurer, EVP   $125,000
Patrick ShannonAllegion PlcSVP, CFO     $75,000

(1) appointed CFO Dec. 31, 2014
Source: IBJ research