Situation USA had grown rapidly from 2 trucks to almost 600 trucks and roughly $100M in revenue in less than 10 years without the appropriate infrastructure and controls to support a larger business. Prior to GGG’s involvement, USA had sustained significant losses due to: Significant debt burden buying new tractors and trailers it did not need Unexpected fuel spikes Competitive pressure to decrease rates with customers Highly leveraged balance sheet across many lenders Other management issues including significant non-essential spending USA had made multiple attempts to restructure existing debt payments, refinance equipment, and bring in investors to help fund the business. In difficult times during the trucking industry, the Company appeared to be holding [...]

Situation Summitt Trucking LLC (Summitt) is a privately owned and operated asset-based Transportation and Logistics Company.  Located in Clarksville, IN, they service an array of nationally-recognized shippers in both the refrigerated and dry van commodities. Prior to GGG’s involvement, Summitt was operating under chapter 11 bankruptcy and facing financial and operational distress. Action In early 2011 Summitt engaged GGG to restructure the business to enable them to emerge from Bankruptcy.   Due to GGG’s hands-on involvement, the company was able to rebuild lender confidence in financial controls and forecasting, as well as prove that there was a viable business that would be able to provide creditors with a better recovery over [...]