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SOURCE U.S. Small Business Administration
8(a) Graduate Firm of the Year, SBIC of the Year, Industry Leaders Also Honored
WASHINGTON, May 16, 2014 /PRNewswire-USNewswire/ -- A woman-owned, 8(a)-certified IT small business contractor from Virginia and a small commercial engineering firm from Massachusetts have been named the National Prime Contractor of the Year and National Subcontractor of the Year by the U.S. Small Business Administration. The awards were announced at a breakfast event as part of the final leg of SBA's National Small Business Week celebration in Washington, D.C.
"Small businesses are the backbone of the nation's economy, so when federal contracts get into the hands of small businesses or they are at the receiving end of investment capital opportunities, it isn't just a win-win for the federal government, it vitalizes the economy and the job market," said SBA Administrator Maria Contreras-Sweet.
"In FY 12, the federal government awarded nearly $100 billion in federal contracts to innovators and job creators like the small businesses being honored today. These businesses and the industry leaders are stellar models of how to successfully navigate the federal contracting arena and how to provide private equity opportunities to small businesses."
This year's winners are:
The two small businesses were selected from among ten regional prime contractors and 10 regional subcontractors of the year. The awards honor small businesses that provide outstanding goods and services to the federal government as prime contractors or as subcontractors.
SBA's 8(a) Business Development program is a nine-year program which provides socially and economically disadvantaged firms access to government contracting opportunities and specialized business training and counseling to help them become viable competitors in the federal marketplace.
Other procurement awards announced today include:
The Dwight D. Eisenhower Award for Excellence, recognizing large prime contractors that have excelled in utilization of small businesses as suppliers and subcontractors. The recipients are:
The Riverside Company was selected 2014 Small Business Investment Company of the Year. Founded in 1988, the Riverside Company is one of the largest and oldest global private equity firms investing in companies with enterprise values less than $250 million. Riverside's objective is to nurture companies and build them into more effective enterprises through time-tested management techniques, organic growth and add-on acquisitions.
Loren Schlachet, Managing Partner, joined Riverside in 2000 and founded Riverside Micro-Cap Fund (RMCF) in 2005. Loren leads RMCF's investing and operating teams in the acquisition, growth and sale of portfolio companies. Riverside has invested in more than 330 transactions since its inception and its international portfolio includes more than 70 companies. RMCF's second vintage, RMCF II, pairs investors commitments with Small Business Administration funds through the Small Business Investment Company (SBIC) program. RMCF II is a top-performing fund, and its investments in 27 American companies to date have helped those companies increase revenues and earnings. The recently launched RMCF III is following in the successful SBIC footsteps of RMCF II, and has already made one investment.
Riverside manages more than $4.6 billion in assets and employs more than 200 people on four continents worldwide. The company's presence can be felt spanning from New York City to Brussels, Belgium.
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