Executive Briefings

Greatwide Logistics Services Completes Financial Restructuring, Strengthens Service Offerings

Greatwide Logistics Services, a national provider of third-party logistics with a specialty in refrigerated services, has completed a financial restructuring begun in 2008. During the process, Greatwide has evolved from a company facing significant financial challenges to one with a debt-to-equity ratio of .72 -- among the lowest in the industry.

The company, which now counts 12 of the nation's largest retailers and distributors among its customers, was purchased in February 2009 by affiliates of Centerbridge Partners, a private investment firm, and other investors, including The D.E. Shaw Group. With that foundation, Greatwide is moving forward focused on growth.

"Our initial strides in 2009 brought us excellent progress, and now -- with this transformation complete -- we have a clear and focused agenda to continue on that path," said Leo Suggs, chairman of the board and chief executive officer. "Our strategy moving forward is to continue what we do best in the logistics and transportation industry, as well as to invest in new solutions, accelerate customer relationships and expand the business, both organically and through additional acquisitions."

Prior to the restructuring Greatwide's units operated separately, but now all divisions are combined into one operating company based in Dallas, says Vin Gulisano, chief customer officer. As a result, "we are able to offer better integrated solutions," he says.

One of these is a centralized Transportation Operations Center, also in Dallas, that supports its Managed Transportation Services offering with TMS technology from LeanLogistics. "We are bringing management and resources to bear that enable us to provide a level of centralized support that we did not have before," Gulisano says.

Going forward the company will focus on key capabilities in dedicated transportation, brokerage and warehousing. 

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Greatwide Logistics Services, a national provider of third-party logistics with a specialty in refrigerated services, has completed a financial restructuring begun in 2008. During the process, Greatwide has evolved from a company facing significant financial challenges to one with a debt-to-equity ratio of .72 -- among the lowest in the industry.

The company, which now counts 12 of the nation's largest retailers and distributors among its customers, was purchased in February 2009 by affiliates of Centerbridge Partners, a private investment firm, and other investors, including The D.E. Shaw Group. With that foundation, Greatwide is moving forward focused on growth.

"Our initial strides in 2009 brought us excellent progress, and now -- with this transformation complete -- we have a clear and focused agenda to continue on that path," said Leo Suggs, chairman of the board and chief executive officer. "Our strategy moving forward is to continue what we do best in the logistics and transportation industry, as well as to invest in new solutions, accelerate customer relationships and expand the business, both organically and through additional acquisitions."

Prior to the restructuring Greatwide's units operated separately, but now all divisions are combined into one operating company based in Dallas, says Vin Gulisano, chief customer officer. As a result, "we are able to offer better integrated solutions," he says.

One of these is a centralized Transportation Operations Center, also in Dallas, that supports its Managed Transportation Services offering with TMS technology from LeanLogistics. "We are bringing management and resources to bear that enable us to provide a level of centralized support that we did not have before," Gulisano says.

Going forward the company will focus on key capabilities in dedicated transportation, brokerage and warehousing. 

Read Full Article