The Summit Organization, LLC

Summit has worked for banks, law firms and turnaround firms on numerous assignments, with a high success ratio of being able to return the client to profitability.

Tom Swiers views turnaround professionals, in general, as being focused on either the left side or the right side of the balance sheet. Clearly, Summit’s focus is “left side oriented” with an immediate goal of implementing necessary cost reduction activities in order to eliminate negative cash flow, followed by debt restructuring. Only then can an effective reorganization plan be developed and implemented.

Following is a representative list of Summit’s turnaround and restructuring clients.

Metal Stamping Manufacturer - Assumed the position of interim CFO as of the date of acquisition of this $35 million in annual revenues manufacturer of heavy duty stamped components for automotive and truck trailer manufacturers. Instrumental in updating and converting the company's ERP systems and improving financial reporting.

Telecom Equipment Manufacturer – Assumed the position of interim COO of this $47 million in annual revenues manufacturer of equipment and provider of support services for the telephone and cellular industries, returning the company to profitability.

Fastener Manufacturer - Assumed COO control over this $15 million in revenues Nashville, TN manufacturer of specialty fasteners and returned the company to profitability within a three month period. Restructured secured and unsecured debt. Established product cost systems. Restructured sales organization. Developed sales pricing methodology. Trained new management.

Folding Carton Manufacturer - Assumed the position as interim COO of this $7 million in revenues folding carton printer and converter. Returned  the company to profitability and restructured its secured and unsecured debt. Arranged for equity capital.

Food Manufacturer - Assumed the position of interim COO of this $20 million in revenues specialty manufacturer of gourmet chicken products. Quickly returned the company to profitability, determined product costs, established a sales organization, refinanced the company and successfully reduced union wages by approximately 20%. Resolved conflicts between the two owners by arranging for a buyout by one partner.

Conveyor Systems - Assumed the position of interim CFO of this $20 million in revenues manufacturer of conveyor systems used by electronic equipment manufacturers and quickly returned the company to profitability. Established quotation and cost control procedures. Outsourced numerous components with contractors in Mexico. Developed operational and cash flow budgets. Led a successful Chapter 11 reorganization of the business.

Contract Packager - Assumed COO control of this $25 million in revenues contract packaging company as an agent for the assignee for the benefit of creditors. Operated the business and significantly increased the cash return to the Company’s secured lender. Instrumental in the sale of the business.

Seating Manufacturer - Assumed the position of Interim COO of this $20 million in revenues manufacturer of rapid transit seating and restructured the manufacturing and financial activities for this manufacturer of rapid transit seating.

Snack Food Manufacturer - Acted as agent of the assignee for the benefit of creditors in the closure and liquidation of this specialty candy manufacturer.

Stainless Steel Fabricator - Acted as agent of the assignee for the benefit of creditors in the closure and liquidation of this stainless steel fabricator and contractor.

Surgical Equipment - Assumed the position of interim CFO of this California based publicly traded biotech R&D company. Assisted the CEO in a major restructuring activity.

Equipment Distributor - Assumed the position of COO of this $12 million in revenues equipment distributor to the grocery trades. Returned the company to profitability and assisted with the eventual sale of the business.

Retailer - Engaged by this specialty retailer to investigate the reason for operational losses. Represented the company as financial advisor during Chapter 11.

Contract Printing – Turnaround and restructuring services that included a successful Chapter 11 bankruptcy filing for this contract printing company with annual revenues of $7 million. Functioned as the company’s interim CFO.

Steel Service Center – Turnaround and restructuring services for this steel service center with annual revenues of $5 million.

Floor Covering Retailer – Business and financial turnaround consulting, assistance with the company’s accounting system and cash flow modeling for this rapidly growing “media advertising” retailer of carpeting, draperies and other floor coverings.

Taxi Company – Business and financial turnaround consulting, cash flow modeling, debt placement services and interim CFO services for this taxi fleet owner.