PHILADELPHIA, PA — Seven privately held companies were selected for governance awards recognizing board oversight and shareholder stewardship as family-owned and closely held businesses face growing pressure to formalize governance practices and succession planning.
MLR Media announced the recipients ahead of the 2026 Private Company Governance Summit, scheduled for June 10-12 in Washington, D.C.
The awards recognize fiduciary boards at private companies across multiple ownership structures and revenue ranges, with categories covering family-owned, majority family-owned, and employee-owned businesses.
Recipients include Benco Dental and U.S. Venture Inc. in the family-owned category for companies with more than $1 billion in revenue.
Edmund Optics and Wyo-Ben Inc. received recognition in the majority family-owned category for companies generating between $101 million and $350 million in annual revenue.
ThermFlo Inc./Zonatherm Products, Kingsbury Inc., and MSA Professional Services were recognized in categories for companies with less than $100 million in revenue.
According to MLR Media, the awards evaluate how boards serve shareholders, employees, and broader stakeholder groups through governance structure, oversight practices, and strategic performance.
The program distinguishes fiduciary boards, which hold binding authority over company management decisions, from advisory boards that provide strategic guidance without formal voting authority.
The Private Company Governance Summit, now in its 14th year, focuses on governance issues affecting closely held, family-owned, and private equity-backed companies.
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