HISTORY & SUCCESS STORIES
•After leaving Prestolite Wire Corporation in 1992, where Jeff served as VP of Sales and Marketing, several larger organizations tried to hire Jeff to serve as a key executive. One company was a $1 billion global wire company. Jeff offered an independent turn-key organization option, based in the Detroit area, that would better serve their objectives in automotive. A dedicated team was put in place within 30 days, which served as their automotive sales and business development organization. Significant success led to another contract with the same client to establish a turn-key N. American and all product effort at a Global Wire Distributor (Anixter Corporation). In addition, the Company and CMP eventually partnered in the acquistion in a manufacturing venture for a new product, where CMP also provided 2 years of transition GM support for the JV. Within 5 years, CMP was responsible for approximately $100 million of related sales and valuable management consulting services.
•In 1995, CMP was retained to help with the transition of ownership in a small injection molding business ($1.8 million in sales). Significant growth was needed to help with cash flow and plant utilization, in order to help with the proposed management buyout. CMP gained performance stock options, helped drive the sales quickly to $10 million and placed a turn-key sales manager into the business for the initial 2 years. The business eventually grew to 3 plants and over $35 million in sales, selling to an investment group.
•In 1996, a customer of CMP’s, which was a niche tier 1 in automotive, was faced with being squeezed out at their only Big-3 customer. They asked CMP to set up a similar effort for them. The delemma with their customer was fixed via a recommendation to establish a MBE business and flipping their core business into the venture. Over $100 million of other opportunities were lined up for the supplier/client at other OEM's. This helped position the company to sell and merge with a much larger/global competitor.
•When the above assignment ended, CMP sought out a MBE harness company to represent and bring into automotive. This lead to the relationship with EDS Manufacturing, Inc.. EDS owners (Bob Milo and Luis Moreno), were interested in automotive and the relationship started in May, 1998. EDS was operating at about $12 million of sales a year in the appliance space at that time, with Maytag accounting for about 2/3’s of their business base. EDS is now $100 million with automotive being their largest segment. They also have a JV with Kyungshin Cable ($3 billion Korean electrical system leader), that CMP helped pull together and is rapidly gaining business in the battery cable space.
•Following a major client’s public offering in 2000 and eventual hostile take-over by a smaller company, CMP (and investment group) gained the rights to acquire two plants (automotive, industrial, UL and welding cables). CMP eventually steered these plants to a smaller/start-up company. CMP was retained as their turn key automotive team, along with a national effort with a couple major distributions. When our contract ended, the business had grown over 4 fold.
•Around 2005, CMP had the opportunity to acquire a majority stake in an internet based safety training business, with ties to the National Safety Council. Two of CMP’s original staff/partners were assigned to this opportunity. After turning around this business, the two operating partners offered to buy CMP’s majority stake in 2008.
•In recent years, CMP has been focusing primarily on the significant upside opportunities with EDS, their JV with Kyungshin and the new relationship with BEET Analytics. We helped BEET with the minority certification process and opened the door with GM for significant opportunities.