A mentor-protege agreement between Granite Construction and HydroTech Inc. of Fernley is designed to help both companies land more federal work.
Through the Small Business Administration's Business Development Program, Granite will provide assistance to HydroTech to help it land large federal contracts. Granite will share its expertise and resources and act as a prime contractor in joint ventures with HydroTech.
"The partnership is mutually beneficial," says Kyle Larkin, Granite's manager of construction. "It really gives Granite the opportunity to mentor someone we believe is progressive and capable and allows us a different method of potentially procuring government-related opportunities."
The SBA says mentor companies such as Granite can provide proteges with management assistance, loans or equity investments and subcontracts. Together the companies can joint venture and get the preferences available to small businesses in government contracting.
Debra Brazell, president of HydroTech, says the agreement is a winner for both companies because it offers federal customers the combined expertise of Granite and HydroTech. The partnership opens doors that otherwise would be closed, she says.
"For HydroTech, the mentorship will provide the muscle needed to launch the company into the next level of growth. For Granite, they are able to work in the minority federal contracting arena that would otherwise be unavailable to them."
The deal also may allow creation of new jobs and increased job opportunities for existing employees, Brazell says.
"Our partnership with Granite will contribute to the long-term success and growth of our company and our employees. It's an honor to be only one of two companies fortunate enough to have Granite as a mentor. We look forward to many contracting adventures with them."
Larkin says interaction between the two companies is still being worked out.
"We are still trying to see what opportunities there are, but it definitely should be beneficial for HydroTech and Granite, and it's exciting to see where partnership can go."
