This past Wednesday, October 15, 2008, ExecutiveBiz held our quarterly “Been There, Done That” series at the Tower Club in Tysons Corner, Virginia with guest speaker, George Pedersen, CEO of Man Tech International.
Pedersen, who has been CEO of Man Tech since 1968, spoke to a group of executives on a variety of issues. They included how ManTech came from its modest beginnings, a two person business, to a $1.45 billion in top line revenue company with $1.95 earnings per share even during an uncertain funding environment. He shared his experiences and successes with the group.
Optimism fueled his speech. He believes local businesses should be positive about the future and about growth. Growth will come from the government’s expanded needs both nationally and internationally and opportunities will also continue to pour into our region due to our proximity to both the intelligence and governmental industries.
The future will have great needs for experienced contractors, Pedersen added. Cybersecurity, a $15 billion dollar business, is just one of many areas that will require expansion. In addition, government will continue to need more man power in the war on terrorism, interoperability, homeland security needs, intelligence, command and control systems, and complex IT support. In addition the field will continue to experience a shortage of talent with retirees who need to be replaced.
Much of his talk also focused on acquisitions. He said, “Nothing is too small if it has a mission.” Then he added, “Don’t be afraid of acquisitions if in fact your goal is to grow your business, and don’t buy just for sales.”
Finally, he concluded on the issue of going public, he reiterated, “Don’t be afraid, just get good advice. And, going public is far better than spending all your money on lawyers.”