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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
NORTH AMERICA
Finance Monthly CeO AwArdS 2013 49