Regions Hampton Roads

Two Virginia companies make Forbes ‘Best Small Companies’ list

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Two Virginia companies, Strayer Education and Portfolio Recovery Associates, have been named to Forbes’ list of “100 Best Small Companies in America.”

Herndon-based Strayer, a for-profit university, ranked 19th on the list while Norfolk-based Portfolio Recovery, a specialized financial and business services company, was 23rd.

Strayer, which has a market cap of $776 million, has revenue of $587 million and 2,140 employees. Portfolio Recovery, with a market cap of $1.74 billion, has revenue of $520 million and 3,032 employees.

Strayer’s enrollment has grown from 12,100 to 54,200 students since in 2000. It has made Forbes “Best Small Companies” list for 15 straight years.

Portfolio Recovery buys pools of defaulted consumer receivables, as well as auto and student loans, and seek to collect on them.  “CEO Steve Fredrickson co-founded the company in 1996 and has overseen 25 percent annual earnings growth since 2006,” Forbes says.

The company has been on the list every year since 2007, moving up 40 spots this year.

The Norfolk-based company also ranked No. 8 on Forbes’ “10 Hot Companies Hiring Like Crazy,” the only Virginia company on the list.

Forbes noted a 49 percent increase in U.S. and international jobs at Portfolio Recovery during the past three fiscal years.  “Here in the U.S., PRA has added almost 700 jobs since 2009,” Steve Fredrickson, PRA’s CEO, said in a statement. 


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