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Source One wins $10 billion defense contract – South Florida Sun Sentinel

By Marcia Heroux Pounds, Sun Sentinel
March 12, 2014

A military and tactical gear supplier based in Wellington has landed a $10 billion contract from the Defense Logistics Agency.

Founder and CEO Mark Llano called the contract “critical to the health of the company.” It will position Source One for additional military and government contracts, he said.

Source One will provide tactical gear, weapons and other military supplies, as well as new items including tents, generators and shelters, Llano said.

While military forces are winding down in Afghanistan, rising defense issues in other parts of the world present an opportunity for military suppliers, he said.

Similar contracts were awarded to Tactical & Survival Specialties in Harrisonburg, Va.; W.S. Darley & Co., in Itasca, Ill.; ADS Inc. in Virginia Beach, Va.; Federal Resources Supply Co. in Stevensville, Md.; and Quantico Tactical in Aberdeen, N.C.

Twenty companies bid for the contract, according to the Defense Logistics Agency.

Source One also won an $84 million, two-month contract from the agency for tactical, survival and rescue equipment, the agency announced.

Source One, founded by Marine Corps veteran Llano in 2003, saw its revenue fall by more than 30 percent in 2013 as it weathered sequestration and the government furlough. The cuts were somewhat offset because the company had diversified into supplies for other agencies such as the State Department and the National Guard.

The company won the same federal contract in 2009 for $5.7 billion. This time, six companies won the contract, compared with five previously, Llano said.

The company employs 34 in Wellington, recently adding three sales positions – all veterans.

Llano and his company have won numerous national and regional awards as a small business and government contractor. Llano received the Sun Sentinel Co.’s Excalibur Award for Small Business Leader in Palm Beach County in 2007.

In 2012, Llano started Serket Racing, a Porsche racing team that raises awareness and assistance for military veterans and their families. Last year, the organization donated three mortgage-free homes to injured veterans and their families.