Experienced transportation leaders join SMGI to drive next phase of growth and margins
HOUSTON, TX, Sept. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SMG Industries, Inc. (the “Company”) (OTCQB:SMGI), a growth-oriented transportation services company focused on the domestic infrastructure logistics market, today reported the hiring of experienced leaders, including a Chief Transition Officer, Chief Financial Officer, Corporate Controller and the expanded role for the President of 5J Transportation Group.
Effective immediately, Mr. Steven H. Madden has assumed the role of Chief Transition Officer. In this interim capacity, Mr. Madden will advise concerning managerial transition and will also advise the Company’s Board of Directors. Mr. Madden has assembled and grown a portfolio of companies over the past 30 years. As a Chairman and CEO, Mr. Madden and his management teams have globally built, acquired, merged, and sold businesses, real estate and investments in and around the industrial, automotive, aerospace and energy industries. His experience and expertise include manufacturing, engineering, distribution, service companies, transportation, and top-grading management teams.
Additionally, Mr. Allen R. Parrott has been appointed as the Company’s Chief Financial Officer. Most recently, Mr. Parrott was the Chief Financial Officer of GreenPath Logistics, an owner and operator of natural gas-powered tractors. He served in that role since December 2020, during which time he led the creation of the ground transportation green fleet from inception. Previously, he served as Chief Financial Officer of Continental Intermodal Group, a technology driven logistics company and as Chief Financial Officer and Executive Vice President of Central Freight Lines, a less than truckload carrier that generated approximately $300 million in revenue per year during Mr. Parrott’s tenure. In addition, he has extensive leadership experience in global freight management, transportation, contract logistics services and technology. Mr. Parrott earned a Bachelor of Science in Finance from the University of Houston, Clear Lake.
Mr. Jimmy Frye, President of the Company’s 5J Transportation Group, has taken on additional operational responsibility for 5J’s brokerage and commodity freight services as well having over 40 years of transportation and trucking experience behind his management of the entire 5J group.
Mr. Jason Gassman, CPA has been hired as the Company’s Corporate Controller. Mr. Gassman, a Certified Public Accountant, brings to the Company 10 years of finance and accounting management experience in the fields of transportation and logistics. Mr. Gassman graduated with a Bachelor of Science from the University of West Florida.
Mr. Jeffrey Martini resigned his contract roles as Chief Executive Officer and Chief Financial Officer of the Company, completing his service of strategy-setting, cost optimization and revenue growth. Mr. Martini will continue to assist the Company in an advisory capacity to effectuate an orderly transition of duties over the coming weeks.
Mr. Matt Flemming, the Company’s Chairman, announced, “We are pleased to have attracted this slate of deeply experienced transportation and logistics executives to lead the Company through its next phase of growth. Since our transformation into a transportation services company last year, we have achieved focus, captured share and grown organically. Now, with this newly acquired talent, we are well positioned to expand our size, profitability and extend our footprint.”
Mr. Flemming continued, “On behalf of the Board of Directors, I’d like to thank Mr. Martini for his successful leadership and diligent efforts over the last 15 months. Under his direction, the Company navigated through the 2020 downturn and has diversified by leveraging its assets towards infrastructure, brokerage and flat-bed logistics. We appreciate his dedication and hard work and wish him the best in his future endeavors.”
About SMG Industries, Inc.: SMG Industries is a growth-oriented transportation services company focused on the domestic infrastructure logistics market as a turn-key solutions provider for engineered freight. Through several of the Company’s wholly-owned subsidiaries branded as the 5J Transportation Group it offers heavy haul, super heavy haul, hot shot, and drilling rig mobilization services. 5J’s over-dimensional permitted jobs can support up to 500 thousand pound loads which include cargo associated with wind energy, power generation components, bridge beams, compressors, refinery and construction equipment. SMG Industries, Inc. headquartered in Houston, Texas has facilities in, East Houston, Floresville, Henderson, Odessa, Palestine, and Victoria, Texas. Read more at www.SMGindustries.com.
Contact:
Matthew Flemming, SMG Industries, Inc. Matt@SMGIndustries (dot.com)
SOURCE: SMG Industries, Inc.
