Experienced transport operators join SMGI to drive the next phase of growth and margin
HOUSTON, TX, September 7th, 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, announced today that it has been discontinued experienced leaders including a chief transition officer, chief financial officer, corporate controller and the expanded role of president of the 5J Transportation Group.
Effective immediately, Mr. Steven H. Madden has assumed the role of Chief Transition Officer. In this interim function, Mr Madden will advise on the change in management and will also advise the company’s board of directors. Mr. Madden has built and grown a portfolio of companies over the past 30 years. As Chairman and CEO, Mr. Madden and his management teams have built, acquired, merged, and sold companies, real estate, and investments in and around the industrial, automotive, aerospace, and energy industries worldwide. His experience and expertise includes manufacturing, engineering, sales, service companies, transportation and world class management teams.
In addition, Mr. Allen R. Parrott has been named chief financial officer for the company. Most recently, Mr. Parrott was the Chief Financial Officer of GreenPath Logistics, an owner and operator of natural gas powered tractors. He has been working in this role since December 2020, during which time he managed the development of the green ground transport fleet from the very beginning. Prior to that, he served as Chief Financial Officer of Continental Intermodal Group, a technology-driven logistics company, and Chief Financial Officer and Executive Vice President of Central Freight Lines, a freight carrier who generated approximately $ 300 million in revenue during Parrott’s tenure Year earned tenure. He also has extensive leadership experience in global freight management, transportation, contract logistics services, and technology. Mr. Parrott earned a Bachelor of Science degree in finance from the University of Houston, Clear Lake.
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Mr. Jimmy Frye, President of the company’s 5J Transportation Group, has assumed additional operational responsibility for 5J’s brokerage and freight services and has 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 10 years of finance and accounting experience in the fields of transportation and logistics to the company. Mr. Gassman graduated from the University of West Florida with a Bachelor of Science degree.
Jeffrey Martini stepped down from his contract positions as Chief Executive Officer and Chief Financial Officer of the company, completing his work in the areas of strategy development, cost optimization and revenue growth. Mr. Martini will continue to support the company in an advisory capacity in order to bring about an orderly transfer of tasks in the coming weeks.
Company Chairman Matt Flemming said, “We are delighted to have this group of experienced transportation and logistics managers on board to lead the company through the next phase of growth. Since our transformation into a transport service company last year, we have focused, gained market share and grown organically. With this newfound talent, we are now well positioned to expand our size, profitability and presence. “
Mr. Flemming continued: “On behalf of the Board of Directors, I would like to thank Mr. Martini for his successful leadership and hard work over the past 15 months. Under his leadership, the company weathered the 2020 downturn and diversified, leveraging its assets towards infrastructure, brokerage and flatbed logistics. We appreciate his commitment and hard work and wish him all the best in his future work. “
About SMG Industries, Inc .: SMG Industries is a growth-oriented transportation services company focused on the domestic infrastructure logistics market as a turnkey technical cargo solution provider. It provides heavy haulage, super-heavy haulage, hot shots, and rig mobilization services through several of the company’s wholly owned subsidiaries, known as the 5J Transportation Group. 5J’s oversized allowable jobs can carry loads of up to 500,000 pounds, including cargo related to wind energy, power generation components, bridge girders, compressors, refineries, and construction equipment. SMG Industries, Inc., headquartered in Houston, Texas, has offices in East Houston, Floresville, Henderson, Odessa, Palestine, and Victoria, Texas. Read more at www.SMGindustries.com.
Matthew Flemming, SMG Industries, Inc. Matt @ SMGIndustries (dot.com)
SOURCE: SMG Industries, Inc.