The winners of the 2026 Private Company Boards of the Year Awards may vary in service offerings – operating in such areas as dental products, automotive parts, and power and cooling solutions – but they all have one thing in common: a commitment to stellar corporate governance.
The awards, now in their 11th year, are presented by Private Company Director, Family Business and Directors & Boards magazines at the annual Private Company Governance Summit. They were created to recognize private companies that go above and beyond legal governance requirements and commit to the highest levels of governance, whether through fiduciary or advisory boards. The awards honor the performance of the board as a whole.
The awards recognize fiduciary boards as well as advisory boards. Fiduciary board awards were categorized by company revenues and ownership type.
The Private Company Governance Summit, which will celebrate its 14th anniversary June 10-12 at The Westin DC Downtown in Washington, D.C., is the only national conference focused on the unique governance challenges faced by owners, shareholders, directors and advisory board members of closely held, family-owned and private equity-owned companies.
While 12 private company boards were designated as finalists for the 2026 Private Company Boards of the Year Awards, seven stood out for their diligence, standards and best practices.
Here are the seven boards chosen for this year’s recognition. Check out our past winners.
Benco Dental
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenues: More than $1 billion
Company Ownership: Family-Owned
Benco Dental is the largest privately-owned dental distributor in the United States, providing comprehensive solutions to dental practices, including supplies, innovative equipment, technology, and practice management services.
Governance highlights include:
- Majority independent board.
- CEO/chair split.
- Four highly involved committees (growth and diversification, HR/compensation, finance and nominations).
U.S. Venture Inc.
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: More than $1 billion
Company Ownership: Family-Owned
U.S. Venture, Inc. is a prominent distributor of traditional petroleum products and renewable energy solutions, lubricants, tires, and automotive parts.
Governance highlights include:
- High-powered, accomplished independent board members whose expertise spans data, supply chain, and the future of fuels and transportation.
- Sophisticated board structure with rotating calendars, bylaws and three active committees.
- Board has helped the company double in size since 2018 through acquisitions and organic growth.
Edmund Optics
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: $101 million to $350 million
Company Ownership: Majority Family-Owned
Edmund Optics is a leading global supplier and manufacturer of precision optics, imaging components and photonics technology, serving industries like R&D, electronics, semiconductor and biomedical.
Governance highlights include:
- Majority independent board with skills-based composition aligned to company strategy.
- A highly structured governance model with defined roles and formal documentation.
- Family council operates alongside the board to ensure alignment between family and business priorities.
Wyo-Ben Inc.
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: $101 million to $350 million
Company Ownership: Majority Family-Owned
Wyo-Ben, Inc. is a leading producer of Wyoming Bentonite clay-based products, providing mineral-based technology solutions for various industries since 1951.
Governance highlights include:
- The board was a major driver behind a 2020 investment that has resulted in significant revenue growth for the company.
- A term limit of nine years on the board, renewable on an annual basis.
- The board holds an annual strategy offsite where the four independent directors meet with the CEO, not to conduct board business but to help the CEO think through strategy.
ThermFlo/Zonatherm Products
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: Under $100 million
Company Ownership: Family-Owned
Zonatherm Products, Inc. and its sister company ThermFlo, Inc., specialize in mission-critical cooling, standby power, and thermal management systems for commercial facilities.
Governance highlights include:
- The company operates with a CEO/chair split and its first-ever non-family CEO.
- Holds five meetings annually, including strategy sessions and a formal budget approval call.
- The board introduced formal budgeting and financial rigor, and implemented bylaws, charters and governance frameworks.
Kingsbury Inc.
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: Under $100 million
Company Ownership: Family-Owned
Kingsbury, Inc. designs and manufactures specialized hydrodynamic fluid-film thrust and journal bearings for heavy industrial rotating equipment.
Governance highlights include:
- A mature board, with 50 years of operating experience.
- Age limit of 70 for all directors, with the option of being asked to continue on an annual basis.
- Six active committees, including long-range planning and employee retirement savings.
MSA Professional Services
Type of Private Company Board: Fiduciary
Approximate Annual Company Revenue: Under $100 million
Company Ownership: Employee-Owned
MSA Professional Services is a multidisciplinary firm specializing in sustainable community development, civil engineering, and environmental consulting.
Governance highlights include:
- The board has overseen growth for the company, including a recent expansion to Florida.
- The board led a recent CEO transition, departing from the traditional “Whose turn is it” process and conducting a fruitful, large-scale search.
- The board holds regular retreats to focus on long-term issues, like scenario planning.