Caltius Mezzanine Provides $9.5 Million to Bulk Handling Systems
March 26, 2008
Los Angeles, CA, March 2008 – Caltius Mezzanine is pleased to announce the recent closing of a $9.5 million investment in Bulk Handling Systems (“BHS”), a leading designer, manufacturer and installer of premium conveying and screening systems for the solid waste and recycling materials processing industry.
Headquartered in Eugene, Oregon, BHS develops and manufactures state-of-the-art materials processing equipment for waste processing facilities. The company’s systems sort solid waste and recyclable materials streams into resalable products. BHS’ emphasis on reducing costs and improving processing efficiency for its customers has propelled it to the forefront of the materials processing industry and positioned the company as a leading global provider of recycling equipment.
The proceeds from Caltius’ investment were used to refinance the company’s existing debt and fund management’s repurchase of shares held by outside investors. Caltius’ investment consisted of a $9.5 million subordinated note.
“We are excited to have Caltius on board as our financial partner,” said Steve Miller, President and CEO of BHS. “Caltius structured a creative financing solution that met our unique needs and will enable us to capitalize on the many growth opportunities that exist in our industry.”
“The company’s strong track record of providing innovative and superior performing systems has given BHS a well-earned reputation as a market leader,” said Rick Shuart, Vice President of Caltius Mezzanine. “We are thrilled to be working with such an exceptional company in an industry poised to grow rapidly in the coming years.”