JMB Crushing Systems Inc.
On May 1, 2020, JMB Crushing Systems Inc. and 2161889 Alberta Ltd. (Collectively “JMB”) were granted a stay of proceedings (the “Initial Order”) from the Alberta Court of Queen’s Bench issued under the Companies’ Creditors Arrangement Act (the “CCAA”). FTI Consulting Canada Inc. (“FTI”) has been appointed Monitor.
In connection with the CCAA proceedings, the Court has authorized the implementation of a sale and investment solicitation process (the “SISP”). As part of the SISP, Sequeira Partners has been engaged as the Sale Advisor and is soliciting proposals from qualified interested parties.
For over 30 years, JMB has been producing and supplying aggregates for leading oil field companies, road construction, and industrial projects throughout Alberta. The business has access to numerous gravel pits and maintains a significant inventory of aggregate for immediate distribution with one of the largest reserves of aggregates in Alberta.
All qualified interested parties will be provided with an opportunity to participate in the SISP. The SISP is intended to solicit interest in the sale of, or investment in, JMB or all or any part of JMB’s property, assets and undertakings and its business operations on an as is where is basis. The SISP Process is a two-phased process with the Phase 1 bid deadline set for June 19, 2020. The completion of any proposal shall be subject to the approval of the Court.
Copies of court ordered documents and the SISP may be obtained from the Monitor’s website at cfcanada.fticonsulting.com/jmb/