Leon Tupper: turning adversity into opportunity.

Leon Tupper, president, CEO and 55 percent owner of Gilreath Manufacturing Inc., always dreamed of owning a company, but he never expected to realize his dream the way he did. "Opportunity comes in strange shapes and sizes," he says. "You have, to be vigilant to recognize it."

Tupper speaks from experience. In early 1990, Gilreath, a supplier of plastic parts to the automotive industry, was reeling from a triple whammy. Poor financial management, an over-ambitious expansion strategy and a weak economy. The company's Board of Directors fired all the executive officers and appointed Tupper, then manager of sales and marketing, as president. Shortly after, the company riled for protection from its creditors under Chapter 11 of the bankruptcy code.

Once in Chapter 11, Tupper and vice-president of operations Ron Brown moved quickly. They sold off underutilized assets, centralized operations in Howell, Michigan, and renegotiated or terminated unprofitable contracts. Soon the company was showing a small but steady operating profit.

Then disaster struck: An impatient creditor convinced the bankruptcy judge to order liquidation of the company's assets. "We were very disappointed and disheartened." remembers Tupper. "It was extremely traumatic."

But as he examined the situation, Tupper suddenly saw a solid-gold entrepreneurial opportunity. Who better to buy the company than two men already running it? Backed by $10 million in contract commitments from the Big Three automakers, he and Brown secured bank financing for the purchase and working capital. In December, 1991, they reopened for business with a clear balance sheet.

Today, Gilreath is thriving. Tupper, who owns 55 percent of the company, expects sales to reach $17 million this year, $23 million next year, and $30 million the year after. In a new development, Gilreath is landing substantial contracts from first-tier automotive suppliers as well as the automakers themselves. To meet growing demand, the company is building a new 100,000 square-foot manufacturing facility in Howell. "There's a great deal of good news these day,." Tupper says.

But Tupper is not resting on his laurels. A top priority: Diversifying Gilreath's markets so the company will be less vulnerable to auto industry downturns. Currently, 97 percent of revenues still come from automotive, but the company has landed a few sales in the furniture and recreational product industries and is working for more. Tupper also is looking overseas for future sales. "Opportunities exist for well-run African-American businesses," he concludes. "And there's no recipe for success other than hard work, dedication, and a strong commitment to your goals."