About 2 1/2 years ago, CapX designed a debt solution to address immediate capital needs of the company. Specifically, CapX provided a $7 million equipment lease line of credit to fund GTUIT’s equipment growth. With the new funding, GTUIT was able to accelerate the build out of its modular fleet in order to meet the market demand.
Today, the company announced the following news:
Billings, Montana, USA - GTUIT®, LLC announced today that the firm earned the 203rd position on Inc. magazine's 2016 Inc. 500 list of fastest-growing private American companies with a 3 year revenue growth rate of 1,894%. For 35 years, Inc. has tracked the fastest-growing private companies which have included firms like Microsoft, Under Armour, Oracle and Yeti Cooler. GTUIT stands out because it is one of a very small group of this year's 500 fastest growing companies that serves the energy industry. The vast majority of the other companies on the Inc. 500 list provide business/IT consulting, web services or consumer products. The official Inc. 500 list will appear in the September 2016 issue of Inc. magazine.
Brian Cebull, President and CEO, commented "The energy industry is still alive in the U.S. and it is gratifying to see our Montana headquartered firm recognized as one of the fastest-growing companies in the U.S. We identified our industry niche and focused on combining innovative technology, comprehensive service and world class manufacturing to meet the needs of our customers." Cebull went on to say "It has truly been a group effort, and I am proud of the accomplishments of the entire GTUIT team and grateful for the support and confidence of our investors. I look forward to continuing our growth trajectory into the future as we develop our current North American market and expand into new global markets through our affiliation with Caterpillar Oil & Gas."
Eric Schurenberg, President and Editor-in-Chief of Inc. Media said in his congratulatory letter to Brian Cebull, "As a Inc. 500 honoree, GTUIT now shares a pedigree with Intuit, Zappos, Timberland and other notable alumni. You are in good company-which is exactly where you belong." Schurenberg went on to say "For 35 years, Inc. has welcomed the fastest-growing private companies into a very exclusive club. On average, the companies on the list have grown almost nine-fold over the past three years. That's a result most businesses can only dream of."
GTUIT is an industry leader of well-site level associated gas processing that includes innovative hydrogen sulfide removal and gas processing using mobile and modular equipment to recover natural gas liquids (NGLs) and to condition fuel gas. GTUIT provides both proprietary equipment and best-in-class field service with systems that are mobile and scalable from 250 MCFD to 5MMCFD+.
The firm is focused on providing innovative solutions for stranded gas processing, timely manufacturing and industry leading service that creates value for its customers. More information is available at www.GTUIT.com, Facebook, Twitter, Google+, and LinkedIn.