1Q WISCONSIN75 1Q - Baird · WISCONSIN75 Q Deloitte and the Journal Sentinel ... For about five years in the early 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from

Page 1

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 1Q

Read more business news at jsonline.com/business

WISCONSIN75Q

Deloitte and the Journal Sentinelsalute Wisconsin’s closely held businesses

For about five years in theearly 2000s, the Purcell broth-ers — Phil and Paul — commut-ed from their homes in the Chi-cago area to top executive jobsat financial services firms.

Phil, the older of the two,traveled to New York to runMorgan Stanley. His youngerbrother Paul traveled to Mil-waukee to run Robert W. Baird& Co. Morgan Stanley may havebeen bigger and better known,but Paul Purcell always main-tained that his was the betterjob.

“I said I was having more funbecause I was running a privatefirm,” said Purcell, who handedBaird’s CEO job to Steve Booththis year but remains Baird’schairman.

Purcell will deliver the key-note address at Tuesday’s annu-al Deloitte Wisconsin 75 cele-bration, an event co-sponsoredby the Milwaukee Journal Senti-nel that recognizes 75 of Wis-consin’s largest privately andclosely held companies.

Private ownership has notonly been fun, it has helpedBaird grow, Purcell said.

“It’s our capital and ourname, and we behave different-ly,” he said.

The Milwaukee-based finan-cial firm has about 3,500 em-ployees, up from 2,400 in 2007,

on the brink of the financial in-dustry’s meltdown, Purcell said.

“I don’t think there’s any firmthat grew 40% like we did,” Pur-cell said. In the wake of the fi-nancial crisis, in fact, most WallStreet firms were downsizing,he said.

Becoming private was criti-cal to Baird’s success, Purcellsaid. Baird has since 2004 beenan independent, employee-owned firm. For more than twodecades before that, Northwest-ern Mutual Life Insurance Co.had majority control. But in2004, Purcell negotiated to buythe insurer’s 57% stake in Bairdin a transaction worth hundredsof millions.

Controlling its ownership

Purcell sees perks of private ownership Wisconsin 75 eventfeatures Baird leader KATHLEEN GALLAGHERMILWAUKEE JOURNAL SENTINEL

RICK WOOD / MILWAUKEE JOURNAL SENTINEL

Baird Chairman Paul Purcell stands in the firm’s trading area at itsheadquarters in downtown Milwaukee. See BAIRD, Page 3Q

Deloitte Wisconsin 75

The Deloitte Wisconsin 75,co-sponsored by the Mil-waukee Journal Sentinel, isthe state’s premier recog-nition of the contributionsmade by many of the state’slargest privately and closelyheld companies.

Deloitte compiles the listin order of revenue. Participa-tion is voluntary, so not everylarge, closely held company isincluded. Still, the list alwaysincludes many of the mostwell-known businesses inWisconsin, as well as othersthat may not be as recogniz-able but whose significance tothe state’s economy cannotbe overstated.

The complete 2016 list ison Page 3Q

DistinguishedPerformer Awards

The Distinguished Per-formers are chosen by a panelof business leaders based onsubmissions from Wisconsin75 companies about theirachievements in each cate-gory.

For more about the selec-tion process and the Dis-tinguished Performer judges,see 4Q

Community

CUNA Mutual GroupFrom paid volunteer work

to a generous United Wayprogram, CUNA MutualGroup emphasizes givingback to the community. 6Q

Talent

Standard ProcessStandard Process not only

produces and sells health andwellness products, it alsomakes wellness central to itsemployees’ lives and work-place. 4Q

Innovation

J.P. Cullen & SonsImplementing a new tech-

nique has allowed generalcontractor J.P. Cullen & Sonsto provide a more efficient,safer construction method. 1Q

Succession

The Boelter CompaniesBoelter has served custom-

ers in various hospitalityindustries through threegenerations of leadership,with a fourth likely on theway. 6Q

Sustainability

SchneiderSchneider, a major Wiscon-

sin-based trucking operation,has worked hard to help itstrucks use every drop of fuelas efficiently as possible. 1Q

Also inside:

TASC, or Total AdministrativeServices Corp., has grownrapidly by administeringhealth-care programs andother employee benefits. 5Q

The Primex Family of Com-panies is a leading providerof clock parts and measure-ment devices. 5Q

Close your eyes and think back to when you were in the back seat on

the interstate 20 years ago, or even a decade ago. The trucks

carrying heavy loads on the highway all had a certain look to them.

Boxy. Angular. A big radiator and plenty of chrome up front.

Now look out the window today and you’llsee that look has changed. You’ll see curves in-stead of right angles, and plenty of doohickeysthat reduce drag.

Those curves that aim to make trucks moreaerodynamic are helping trucks put thebrakes on emissions and trucking companiessave on fuel.

At Schneider, the Green Bay firm that isamong the country’s largest trucking compa-nies, engineers work alongside truck makersand engine manufacturers to analyze all kindsof changes that can make a truck more fuel-efficient.

Truck design has gotten a lot more sophisti-cated, says Rob Reich, senior vice president ofequipment and maintenance at Schneider.

He leads a team that ekes out fuel savings— reducing greenhouse gas emissions alongthe way — through a variety of moves.

Little changes can mean a lot for a companywhose trucks, collectively, drive an average of10 million miles a day. All told, those savingsadded up to 5.7 million gallons of fuel in 2014.

The company’s efforts earned it recogni-tion as the Sustainability Award winner in thisyear’s Deloitte Wisconsin 75 program. Thehonor comes at a time when emissions fromthe trucking industry are in the regulatoryspotlight.

Heavy and medium-duty trucks and busesgenerate 23% of U.S. greenhouse gas emis-sions, according to the Environmental Protec-tion Agency. Greenhouse gas and clean-airrules from the EPA are amping up the efficien-cy of engines and requiring fewer emissionsof carbon dioxide and other pollutants.

Tractor-trailer trucks averaged 5.8 milesper gallon in 2014, according to the FederalHighway Administration. Every gallon savedby improving mpg means more for the bottomline and fewer greenhouse gases.

Among other achievements, Schneider hasreceived the EPA’s SmartWay ExcellenceAward six times. More than 2,600 truckingcompanies participate in the SmartWayprogram, which evaluates achievements in re-

ducing greenhouse gases as well as harmfulemissions.

Schneider is one of seven companies thathave won the top SmartWay award at least sixtimes.

In January, Schneider said it had achievedyear-over-year cuts of 22% in carbon dioxide,39% in nitrogen oxide and 30% in particulatematter.

A key innovation has been the trailer skirtsthat hang below the trailer on an 18-wheeler.

“That got them an extra 1% improvement in

Sustainability Award

COURTESY OF SCHNEIDER

Modern tractors save on fuel in part from a much more aerodynamic design.

SCHNEIDER FUELSSUSTAINABILITYFirm focuses on efficiency, emissions

THOMAS CONTENT MILWAUKEE JOURNAL SENTINEL

COURTESY OF SCHNEIDER

Rob Reich is senior vice president at Schneider.

See SCHNEIDER, Page 3Q

Just a decade ago, a majorconstruction project typicallyinvolved the same sequence ofevents.

Dig the foundation. Createthe building frame. Add thewalls, the roof and interior sys-tems, such as lighting, plumb-ing and heating and air condi-tioning equipment.

But now, general contractorssuch as J.P. Cullen & Sons Inc.are increasingly turning to atechnique known as “prefabri-cation.” It involves taking someof that work out of its traditionalsequence, with interior fea-tures created earlier in theprocess while other work is oc-curring.

The result is a more efficientand safer construction method,according to managers atJanesville-based Cullen.

“We can do things faster, bet-ter and get more value for thedollar we spend in the field,”said Pete Scharenbroch, Cul-len’s building information mod-eling and technology manager.

The firm’s use of prefabrica-tion techniques led to Cullen be-ing honored with the InnovationAward among the Deloitte Wis-consin 75 companies this year.

Cullen, which also operatesfrom offices in Brookfield andMadison, constructs officebuildings, schools, hospitals,factories and other large facili-ties. Its better-known Milwau-kee-area projects include theUniversity of Wisconsin-Mil-waukee’s School of FreshwaterSciences, St. Francis Hospital’srenovations and the futuretraining facility for the Milwau-kee Bucks.

The company has around 600employees, with about 10%working in the offices and therest based at various projectsites. The firm’s annual revenueis around $400 million.

Cullen, founded in 1892, in2014 launched a strategic initia-tive to use prefabrication.

Other commercial construc-tion firms also were starting touse the technique. Advances incomputer software and three-dimension graphics made itpossible to more accurately cre-ate models for projects, Scha-renbroch said.

“The technology finallycaught up to the point where itmade all this prefabricationpossible,” he said. “It really isjust coordination. You solve theproblems on the computer inthe office, rather than in thefield where you got guys look-ing at something and scratchingtheir heads.”

Cullen hired Mike LaRue asits prefabrication manager.

See J.P. CULLEN, Page 3Q

Innovation Award

ContractorJ.P. Culleninnovatesway tosuccessTOM DAYKINMILWAUKEE JOURNAL SENTINEL

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

J.P. Cullen & Sons Inc.Husco InternationalLakeside Foods Inc.Windway Capital Corp.Wausau Supply Co.IEWC Global SolutionsThe Boelter Cos.Mayville Engineering Co.Werner Electric Supply Co.Meridian Industries Inc.Palermo Villa Inc.Electronic Theatre Controls Inc.First Supply LLCGustave A. Larson Co.J.F. Ahern Co.J.J. Keller & AssociatesJohnson Financial GroupBauer Built Inc.Edward H. Wolf & Sons Inc.MGS Mfg. Group Inc.River States Truck and Trailer Inc.Zilber Ltd.QPS Employment GroupAstronautics Corp. of AmericaStandard Process Inc.Derse Inc.Gordon Flesch Co.Placon Corp.Kolbe & Kolbe Millwork Co.Quality State Oil Co.Holz Motors Inc.Mortara Instrument Inc. Badger Truck Center Inc.Total Administrative Services Corp.Shorewest, RealtorsPrimex Family of CompaniesErdman

Milwaukee Journal Sentinel Sunday, October 2, 2016 3Q

MILWAUKEE ATHLETIC CLUB

CONGRATULATESTHE WISCONSIN 75

758 N BROADWAY, MILWAUKEE, WI 414-273-4101 macwi.org

WORK OUT. NETWORK.HAVE FUN.

has given Baird “a hugeadvantage” in its ability toplan, invest and act on be-half of clients and employ-ees, Purcell said — somuch so that while therest of the industry waspiling up debt before 2008,Baird was more conserva-tive, always keeping debtbelow two times equity, hesaid.

“I firmly believe thatthe 2008-2009 financialcrisis would not have hap-

pened if all the big finan-cial firms were still pri-vately held or in partner-ships,” Purcell said.“There is no partnershipin its right mind thatwould leverage itself 30times with its own capi-tal.”

There are reasons, ofcourse, to want to be pub-lic. Raising capital is oneof the most enticing, Pur-cell said. But Baird gener-ates “terrific” earnings,so it didn’t need to go afterthat kind of capital, he

said.Being public also con-

veys “enormous legitima-cy” and much higher lev-els of prestige, said Je-rome Katz, an entrepre-neurship professor in thebusiness school at St. Lou-is University. That sends amessage of stability to po-tential partners and cus-tomers, he added.

“All that stabilitymeans people and bankscan assess where you areand where you’re goingand convey that confi-

dence through bond ratesand the stock price,” Katzsaid.

It’s difficult to get thatkind of transparency withprivate companies — butfrom the owners’ perspec-tive, that can be a goodthing, he said.

“Basically the advan-tage of a private companyis the privacy,” Katz said.

Echoing Purcell’sviews, Katz said privatecompanies have moreflexibility in how they or-ganize and in their ability

to change direction andmajor structural fea-tures.

“We have better align-ment being privatelyheld,” Purcell said. “Whenyou’re publicly held,shareholders’ interestsneed to come first. Whenyou’re privately held andthinking long term, youwill always take care ofyour clients first, thenshareholders and asso-ciates.”

At the Wisconsin 75event, Purcell said he

plans to discuss the impor-tance of providing em-ployees with a great work-place. Baird in 2004 land-ed a spot on the Fortunelist of the 100 best placesin the country to work andhas remained there eversince. That’s “a really abig deal to me,” Purcellsaid.

“It’s all about takingcare of clients and givingevery person in the firmrespect,” Purcell said.“Every person here is val-ued.”

Baird chairman sees perks of private ownershipContinued from Page 1Q

(fuel) mileage,” said TomEggert of Madison, whoruns the Wisconsin Sus-tainable Business Coun-cil program, GreenMasters, which recog-nizes companies for theirenvironmental achieve-ments. “But to Schneider1% was millions of dol-lars because they gothrough so much fuel.”

“We really do a lot ev-ery year to look at everycomponent of any pieceof equipment, whetherthat’s the tractor or thetrailer, just to make surethat we’re managing ourfuel efficiency and forthe financial return forthat piece of equipment,”said Reich.

That includes annualfuel testing that weighshow much fuel is used foreven the slightest techni-cal or equipment modifi-cation.

Some of these im-provements will besmall, but it all adds up.

“When you find five orsix of those ideas, ittranslates into signifi-cant savings,” saidReich.

Big enhancements in-clude new engines thatcomply with fuel econo-my regulations as well asaerodynamic mirrors,trailer skirts, fuel tankskirts, aerodynamicbumpers, and low-vis-cosity motor oil.

Not all the improve-ments come from thehardware, however.

Drivers are encour-aged to drive efficiently,and are rewarded if theydo.

“We’ve actually modi-fied our driver incen-tives, and they get a bo-nus based on a number ofthings, but one of them isthe mpg of the tractorthat they’re in,” saidReich.

Schneider measureshow much of the time thedrivers are traveling atspeeds faster than 60miles per hour. Driversreceive a report each

week that calculates howthey’re doing based onthe specific configura-tion of their tractor, andwhether they’re on trackto hit the mpg target forthat quarter, Reich said.

The company helpswith driver comfort byincorporating cab heat-ers that don’t require theengine to be running. Insouthern states, truckerscan keep cool withoutidling as well, he said.

In its quest to be moreefficient, Schneider con-tinues to do testing everyyear. Efficiency gains inthe years ahead, Reichsaid, could come fromcameras replacing hoodmirrors, increased elec-trification of compo-nents in the truck, evenlower viscosity motor oiland stepped-up use ofcompressed natural gasand other alternative fu-els.

Rick Romell of theJournal Sentinel staffcontributed to thisreport.

COURTESY OF SCHNEIDER

Trailer skirts help improve gas mileage and reduce emissions for Schneider trucks.

Schneider fuels efficiencyContinued from Page 1Q

LaRue’s backgroundis in manufacturing, in-cluding 20 years as an in-dustrial engineer at Gen-eral Motors Corp. LaRuemainly worked at GM’sJanesville auto assemblyfactory, which stoppedproduction in 2009.

Before LaRue’s arriv-al, and the commitmentto prefabrication, equip-ment such as pipes andconduits would be cut totheir proper length at theconstruction site, saidTony Rothschadl, Cul-len’s operations man-ager.

“Now that we’re pre-fabricating, we’ve gotthe ability to actually fig-ure out what the length of

every piece of pipe andconduit needs to be” ear-lier in the constructionprocess, he said.

With the three-dimen-sional computer model,Cullen and other firmsworking together on aproject “can see whereall the obstructions aregoing to be,” Rothschadlsaid.

“In the past, thosewould be found a hardway,” he said. “Youwould run a pipe and allof a sudden there wouldbe a duct or a column inthe way.”

On one recently com-pleted office building,the use of prefabricationreduced what previouslywas a 16-month project to10 months, LaRue said.The cost was reduced by

10%, he said.Also, by doing more

work ahead of time onthe ground, instead of onthe upper stories of thebuilding as it’s construct-ed, the exposure to possi-ble falls is reduced. Thatmakes for a safer workenvironment, Roth-schadl said.

While prefabricationhas those advantages,Cullen and other generalcontractors still needbuilding owners, and oth-er companies working onprojects, including ar-chitectural and engineer-ing firms and subcon-tractors, to buy into theconcept, Scharenbrochsaid.

“You need to be all-in,”he said. “That’s our big-gest hurdle to get over.”

CALVIN MATTHEIS / MILWAUKEE JOURNAL SENTINEL

J.P. Cullen & Sons Inc.’s better-known projects include the future Milwaukee Bucks trainingcenter in downtown Milwaukee’s Park East strip.

J.P. Cullen innovatesits way to successContinued from Page 1Q

Journal Sentinel

LOCATIONRANK COMPANY LOCATIONRANK COMPANY

The 2016 Wisconsin 75The Wisconsin 75 is an annual ranking and recognition of the largest closely held companies headquartered in Wisconsin. The list ranks the top 75 companies by revenue, as determined by a voluntary submission of a quali�cations form.

123456789

10111213141516171819202122

23242526272829303132333435363738

Northwestern Mutual S.C. Johnson & Son Inc.U.S. Venture Inc.American Family InsuranceABC Supply Co.Kohler Co.Quad/Graphics Inc.Ashley Furniture Industries Inc.Kwik Trip Inc.Schneider UlineCUNA Mutual GroupSentry InsuranceMenasha Corp.La Macchia Enterprises Inc.Green Bay Packaging Inc.Acuity InsuranceSargento Foods Inc.Robert W. Baird & Co.Trek Bicycle Corp.The DeLong Co.West Bend Mutual Insurance Co.Masters Gallery Foods Inc.Bergstrom AutomotiveCharter Manufacturing Co.The Boldt Co.Johnsonville Sausage LLCBoucher Automotive Group Inc.Appvion Inc.Miron Construction Co.Church Mutual Insurance Co.Ariens Co.Adelman TravelGreenheck Fan Corp.Secura InsuranceHydrite Chemical Co.JX Enterprises Inc.Ewald Automotive Group LLC

MilwaukeeRacineAppletonMadisonBeloitKohlerSussexArcadiaLa CrosseGreen BayPleasant PrairieMadisonStevens PointNeenahMilwaukeeGreen BaySheboyganPlymouthMilwaukeeWaterlooClintonWest Bend

PlymouthNeenahMequonAppletonSheboygan FallsGreen�eldAppletonNeenahMerrillBrillionMilwaukeeScho�eldAppletonBrook�eldHartlandDela�eld

394041424344454647484950515253545556575859

60616263646566676869707172

737475

Brook�eldWaukeshaManitowocSheboyganWausauNew BerlinWaukeshaMayvilleAppletonMilwaukeeMilwaukeeMiddletonMadisonPewaukeeFond du LacNeenahRacineDurandSlingerGermantownLa Crosse

MilwaukeeBrook�eldMilwaukeePalmyraMilwaukeeMadisonMadisonWausauSheboyganHales CornersMilwaukeeMilwaukeeMadison

Brook�eldLake GenevaMadison

Source: Deloitte

NEW TO THE WISCONSIN 75

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For about five years in the ear-ly 2000s, the Purcell brothers — Phil and Paul — commuted from their homes in the Chicago area to top executive jobs at financial services firms. Phil, the older of the two, trav-eled to New York to run Morgan Stanley. His younger brother Paul traveled to Milwaukee to run Robert W. Baird & Co. Morgan Stanley may have been bigger and better known, but Paul Purcell al-ways maintained that his was the better job. “I said I was having more fun because I was running a private firm,” said Purcell, who handed Baird’s CEO job to Steve Booth this year but remains Baird’s chairman. Purcell will deliver the key-note address at Tuesday’s annual Deloitte Wisconsin 75 celebra-tion, an event co-sponsored by

the Milwaukee Journal Sentinel that recognizes 75 of Wisconsin’s largest privately and closely held companies. Private ownership has not only been fun, it has helped Baird grow, Purcell said. “It’s our capital and our name, and we behave differently,” he said. The Milwaukee-based financial firm has about 3,500 employees, up from 2,400 in 2007, on the brink of the financial industry’s meltdown, Purcell said. “I don’t think there’s any firm that grew 40% like we did,” Pur-cell said. In the wake of the finan-cial crisis, in fact, most Wall Street firms were downsizing, he said.

Becoming private was critical to Baird’s success, Purcell said. Baird has since 2004 been an indepen-dent, employee-owned firm. For more than two decades before that, Northwestern Mutual Life Insur-ance Co. had majority control. But in 2004, Purcell negotiated to buy the insurer’s 57% stake in Baird in a transaction worth hundreds of millions. Controlling its ownership has given Baird “a huge advantage” in its ability to plan, invest and act on behalf of clients and employees, Purcell said — so much so that while the rest of the industry was piling up debt before 2008, Baird was more conservative, always keeping debt below two times eq-uity, he said. “I firmly believe that the 2008-2009 financial crisis would not have happened if all the big finan-cial firms were still privately held or in partnerships,” Purcell said. “There is no partnership in its right mind that would leverage itself 30 times with its own capital.” There are reasons, of course, to

want to be public. Raising capital is one of the most enticing, Purcell said. But Baird generates “terrific” earnings, so it didn’t need to go af-ter that kind of capital, he said. Being public also conveys “enormous legitimacy” and much higher levels of prestige, said Je-rome Katz, an entrepreneurship professor in the business school at St. Louis University. That sends a message of stability to potential partners and customers, he added. “All that stability means people and banks can assess where you are and where you’re going and convey that confidence through bond rates and the stock price,” Katz said. It’s difficult to get that kind of transparency with private compa-nies — but from the owners’ per-spective, that can be a good thing, he said. “Basically the advantage of a private company is the privacy,” Katz said. Echoing Purcell’s views, Katz said private companies have more flexibility in how they organize and in their ability to change direction and major structural features. “We have better alignment be-ing privately held,” Purcell said. “When you’re publicly held, share-holders’ interests need to come first. When you’re privately held and thinking long term, you will always take care of your clients first, then shareholders and asso-ciates.” At the Wisconsin 75 event, Pur-cell said he plans to discuss the im-portance of providing employees with a great workplace. Baird in 2004 landed a spot on the Fortune list of the 100 best places in the country to work and has remained there ever since. That’s “a really a big deal to me,” Purcell said. “It’s all about taking care of cli-ents and giving every person in the firm respect,” Purcell said. “Every person here is valued.”