For the first time, global distributor Digi-Key Electronics has been included in the “America’s Largest Private Companies” list by Forbes.
Ranking #119 on the list, Digi-Key is one of just nine companies included in the list in the Capital Goods category.
Forbes has tracked the leading private companies in the U.S. since 1985 with this year’s list having 246 entrants and the threshold being at least $2 billion in revenues. The companies are ranked by revenues from most to least.
Digi-Key said it has experienced more than 80% growth in 24 months, an anomaly for the electronic distribution space.
Part of this growth was due to the chip shortage impacting the supply chain since late 2020 due to the outbreak of COVID-19. With chips in such high demand, electronics distributors saw sales skyrocket as companies in dire need of parts turned to these companies; even some that had never used an electronics distributor before.
To help meet new demand, Digi-Key opened a new 2.2 million sq ft Product Distribution Center expansion (PDCe).