GT Equipment Inc.

Division: Phoenix Management Services, Phoenix Capital Resources


GT Equipment Inc. was a $20 million privately held manufacturer and worldwide distributor of solar and semiconductor industry equipment and technology that was based in Merrimac, NH.


Due to the company’s growth, liquidity pressures and the transition from an entrepreneurial operation to a more corporate structure, GT Equipment faced mounting losses and a default with its lead lender, which was supported by the EXIM bank due to the Company’s substantial international sales.


Phoenix Management Services was engaged and immediately stabilized GT’s business by first repairing the lines of communication with the bank, and implementing an operational plan that incorporated manufacturing, sales, cash management and finance. As a result, GT Equipment’s profit margins increased, productivity throughput was enhanced and the annual revenue increased to $40 million. This improved profitability and growth allowed Phoenix to execute a $12 million refinancing which provided the necessary liquidity for the Company to continue its aggressive growth pace under a stable operational and financial environment.