USA WINNER:
Perry Mehta FutureNet Group, Inc.
CEO Profile...
Perry Mehta has been spearheading the exceptional growth of his company through methods from which he has never deterred: laser focus on goals, surrounding himself with talented people, and teamwork. Today, FutureNet Group is known worldwide as one of the country’s leading U.S. government contractors, providing infrastructure improvements to an industry that demands value, and rewards innovation.
For Mehta, the goal was always to become a successful business executive. After moving to the U.S. and graduating from the University of New Haven with a Master’s in Environmental Engineering, he spent his days employed as an engineer, and his evenings making his vision a reality. In 2003, he decided to focus all of this attention on his small technology company, and soon expanded into the construction, engineering and environmental industries.
The following year, FNG was certified as a Small Business Administration 8(a) firm, and Mehta’s high tech-high touch approach garnered several new business contracts. But challenges prevailed, too. When the economy slowed down, a bank issued a credit freeze, and limited bond underwriting compromised FNG’s second stage growth.
“The management team started a campaign with our banker and the bonding company to demonstrate that we were well worth the risk,” Mehta said, adding that at the time, the executive team agreed to forgo salaries and raises. When the issue was resolved, FNG started to move around the country and bid on projects up to $25 million.
This business hurdle seemed to encourage the highly respected leader and team builder to redouble his business development activity. In 2007, the company brought in about $2 million. In 2012, FNG’s annual revenues reached $60 million when it acquired Smith &
Wesson Security Solutions—now called FutureNet Security Solutions—a full service perimeter security solutions provider. It immediately added more value to FNG’s existing capabilities, and shepherded FNG onto an even broader international stage to “innovatively provide modern infrastructure solutions globally.” Mehta felt he was now on target to generate $1 Billion in revenue by 2025.
Always a supporter of small businesses, Mehta has created an incubator within FNG that supports three small businesses and one Service-Disabled Veteran-Owned business. FNG is also pursuing official Mentor-Protégé relationships with the SBA and the U.S. Army.
To build a recession-proof company and to move from a small-to-mid-sized firm, he tasked his executive team to improve productivity, to create lean, responsive teams, and to maximize profits and reduce risksof a sustainable growth. After nine years in the SBA’s 8(a) program, FNG graduated as one of the leading companies in the U.S. to successfully capitalize on the program by building up a multi-million dollar pipeline of new business opportunities.
Today, FNG has more than 200 employees located in nine offices throughout the U.S. The company continues to garner accolades from organizations like INC 5000,
DiversityBusiness.com, and ICIC Fortune Magazine, all of which have ranked FNG as one of the fastest growing companies in the country. In 2010, Mehta received the SBA’s Region V Small Minority Business Person of the Year award. This year, he received the Ernst and Young Entrepreneur of the Year 2013 Regional Award for Extraordinary Success in Business Products and Services.
Meanwhile, a subsidiary, Solar Water Energy LLC, continues to build one of the world’s first solar destination plant at Mehta’s alma
mater in Gujarat, India. The new plant will convert saline water into drinking water using solar energy, making the institution completely self- sufficient in water.
His community involvements and donations in Detroit are many, including sponsoring the annual Angel’s Night program. He is also passionate about creating jobs for Detroiters, many of whom work in the community where FNG is located. After he visited Haiti in 2010 and left on the last flight before the tragic earthquake struck, he donated more than 600 portable toilets to support the tragic moments and supported in the rebuilding of the country’s infrastructure. Mehta has contributed towards building a new Hindu temple in Canton, Michigan, and is actively involved in the American Society of Engineers of Indian Origin, VYO - USA and several other professional and charity organizations
Fueled by his ambitions for the continued diversification and success of FutureNet Group, Mehta is optimistic about the company’s future. He is still building his childhood dream and strategically setting new goals every year to help improve the lives of FutureNet’s employees, and the lives of people each project touches around the world.
Contact:
Perry Mehta President & CEO - FutureNet Group, Inc 12801 Auburn St, Detroit, MI 48223
www.FutureNetGroup.com
NORTH AMERICA
Finance Monthly CeO AwArdS 2013 49
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83