CCLM Holdings, Inc. Announces Management Buyout

ATLANTA, Sept. 8 /PRNewswire/ -- CCLM Holdings, Inc., a holding  company engaged in disaster services and telecom infrastructure services (the "Company"), announced today that it has closed a transaction whereby the management team of Cotton Commercial USA ("Cotton"), the Company's wholly-owned subsidiary, will acquire a majority of the Company.  The Company will be renamed Cotton Holdings, Inc., and headquartered in Katy, Texas.  

Under the terms of the agreement, the Company issued shares to the management team of Cotton, representing a majority of the common stock outstanding, in exchange for cash and interests in Cottonwood Debris Company, LLC, a debris removal company owned by the management team of Cotton.  Cottonwood Debris was merged into Cotton, with Cotton being the surviving corporation.  The transaction was approved by the Company's board of directors, a majority of its noteholders, and 75% of its stockholders.  

Cotton Holdings, Inc., will be led by: Pete Bell, Chief Executive Officer; Daryn Ebrecht, Chief Operating Officer; Bryan Michalsky, Chief Financial Officer; and Naveen Bhatia, Chairman.

Pete Bell remarked, "We are very excited to regain ownership of Cotton, the company that Daryn and I founded in 1996, and to partner with a group of premiere financial institutions as our fellow stakeholders going forward.  On behalf of each partner and associate of Cotton, I am very proud of the accomplishments, dedication, and commitment to excellence in serving our clients at Cotton over the past 14 years.  I look forward to leading the Company in its next phase as we continue to build a world-class disaster services business and maximize stockholder value."

About Cotton Holdings, Inc.

Cotton Holdings, Inc., is a leading, nationwide disaster services company providing restoration and recovery services to public and private entities throughout the United States and internationally, including environmental remediation, debris removal, and the restoration and reconstruction of commercial, industrial, marine and institutional properties that have suffered catastrophic or other casualty loss.  For more information, please visit www.cottoncompanies.com.  

SOURCE Cotton Holdings, Inc.