CCAi Consulting

Client

CCAi was a computer consulting company active in installing SAP and Oracle systems for Fortune 1000 companies. With annual revenues of $75 million, CCAi was located in Cleveland, OH.

Challenge

CCAi was funded by several private venture companies in the 1990’s. The Company expanded its service capacity through acquisitions using the venture companies’ capital contributions and bank borrowings. The technology crash in 2000 adversely affected the Company’s revenue base and profitability. The aftermath of the technology crash resulted in a highly leverage company that could not meet its debt service obligations.

Solution

A Bridge professional was hired as Chief Restructuring Officer and with the help of other Bridge professionals performed a comprehensive review of the Company’s business operations. Bridge helped senior management and the Board of Directors implement cost saving initiatives, institute utilization metrics and develop and implement marketing plans for new business areas. Additionally, Bridge worked closely with the Board of Directors to develop exit strategies and reduce the outstanding debt.

Results

Working with management, Bridge was able to stabilize the business and restructure the balance sheet. As a result, the company was sold.