Bulk Materials, Inc.

Bulk Materials, Inc. logo


Interim Management

Cleveland, OH

BMI was one of the nation’s largest over-the-road transporters of liquid and dry bulk commodities. The company operated a portfolio of 75 terminals in 22 states and had more than 2,000 employees

CMA professionals were appointed CRO and CFO at BMI Holdings (“BMI”) and successfully guided the Company through a Chapter 11 bankruptcy.

Successfully emerged from Chapter 11 via plan of reorganization

Engagement Highlights

  • During the engagement, CMA conducted extensive diligence into the Company to gain detailed knowledge of the Company’s financial and operational performance, created and monitored the 13-week cash flow, actively managed the cash position, managed the equipment and inventory through dispositions and constantly worked with the lenders throughout the bankruptcy process
  • Additionally, CMA organized and prepared multiple divisions for sale
    • CMA professionals identified and contacted potential buyers, coordinated due diligence, aided in the negotiation of terms and sold multiple divisions
  • CMA additionally aided in the raising of new bank financing facilities provided by ITT and Barclays
  • The exit financing supplied BMI with ample liquidity and working capital to operate and to grow

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