Madison’s Westphal & Co. brings home Family Business Award

Four family-owned companies, including one firm headquartered in Madison, have taken home a 2022 Wisconsin Family Business of the Year Award. The winners, including Westphal & Co. Inc., a Madison-based electrical construction company that won in the medium company category (500–1,000 employees), were honored at a Sept. 22 awards gala.

The three other winners are:

The Wisconsin Family Business of the Year Awards celebrate the accomplishments and impact that family-owned businesses have on the state’s economy and its communities. A panel of former award winners and business leaders chose winners for 2022 based on nominations submitted. There are several criteria for judging, including: contribution to community and industry; how family values influence the business; business performance and innovative practices; and how the business is preparing the next generation.

Jim Hartlieb, president of First Business Bank, one of the program sponsors, noted that family businesses are the backbone of the Wisconsin economy, and he had high praise for this year’s winners. “Their strong qualities in the areas of community involvement, family values, business performance, and innovation make them very worthy winners of this prestigious award,” Hartlieb said. 

Nominees for next year’s award program must be Wisconsin-based family-owned businesses, have intentions of passing ownership to the next generation, and have $1 million in revenue.