Ann Arbor, MI— Plymouth Ventures announced its sixth investment from Plymouth Venture Partners Fund II, in FutureNet Security Solutions, LLC (FNSS), a subsidiary of Detroit, Michigan based FutureNet Group, Inc. (FNG)
On July 10 FNG management announced that it had reached an agreement with Smith & Wesson Holding Corporation to acquire the assets of the company’s perimeter security division, Smith & Wesson Security Solutions, Inc. (SWSS). Over the past three years, SWSS has successfully completed over $130 million in perimeter security projects at more than 110 military installations, 16 distinct federal agencies, and a range of Fortune 500 commercial clients. FNG and SWSS have collaborated on past projects, and together have completed over $11 million of turnkey security construction projects for the Federal Government. The asset purchase closed today with funding from Plymouth Ventures.
Mark Horne, Plymouth’s Chief Executive Officer commented “We are delighted to be part of this exciting growth opportunity for FutureNet. The deal represents a unique combination of strong management, industry leading product and service offerings, a history of successful collaboration and a value equation which will allow FNSS to flourish.” Horne added, “The fact that this is a minority owned enterprise, based in a HUBZone in Michigan’s largest city, makes this deal extra special to us as investors who are thrilled to participate in the rebirth of this region’s urban entrepreneurial communities.”
FNG Chief Executive Officer, Perry Mehta, stated, “Our relationship with Plymouth Ventures has been a true partnership from the very start. Mark Horne provided the experience, process and speed we needed to execute on this transaction. I expect we will work closely with Mark for many years to come as we continue to grow and strengthen our business.”
About Plymouth Venture Partners II, L.P.
Fund II is a follow-on fund to Plymouth Venture Partners Fund I. PVP I became fully invested in 2009 after completing investments in 29 companies. Plymouth Venture Partners II invests in growth stage companies in the Great Lakes region. For more information, please visit www.plymouthvc.com.
About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I and Plymouth Venture Partners II. The company has four partners, Mark Horne, Ian Bund, Jeff Barry, and Bob Savage, and offices in Ann Arbor, Michigan and Toledo, Ohio. For more information, please visit www.plymouthvc.com.
About FutureNet Group, Inc. (FNG)
FNG is a Detroit, MI based company that provides customized solutions for the environment and infrastructure improvements through innovative technologies. It is a federal contractor with more than 125 employees located in its Midwest, Southwest, Southeast and East Coast regional offices. Its certifications include ISO 9001:2008; US SBA 8(a); US SBA HUBZone; several GSA Schedules, etc. In 2010, SBA Region V named FNG CEO Perry Mehta, Minority Small Business Person of the Year. For four years in a row, FNG was listed on ICIC, Inner City 100 Fastest Growing Companies program founded by Harvard Business School. In 2012 FNG also made the INC 500|5000 list of fastest growing private companies in America for the 4th time. For more information, visit www.FutureNetGroup.com, or call (313) 544-7117.
About Smith & Wesson Security Solutions, Inc. (SWSS)
Based in Franklin, Tennessee, SWSS is a full-service perimeter security solutions provider. The company provides a complete range of products and services to a diverse client base in the defense, transportation and petrochemical industries, as well as corporate facilities, airports, Fortune 500 companies, national laboratories, and federal agencies. SWSS is the manufacturer of the GRAB net barrier system, XMB, ODDS, SW1900, and a range of other proprietary perimeter security products. The company has been recognized as a “Top 600″ Specialty Contractor by Engineering News Record in 2011; received the Government Security News “Best Crash Barriers” award in 2009, 2010, and 2011; and has been recognized for innovation by ASIS International and the American Business Awards. To learn more about SWSS services and products, call (615) 224-0400 or visit http://www.smithwessonsecuritysolutions.com/.