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Subsidiaries
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CEI Ventures, Inc. (CVI)  Founded in 1994, CVI manages two socially responsible venture capital funds with total commitments of $25.54 million that make equity investments throughout the northeastern United States. Through these investments, CVI seeks to: create quality employment opportunities; promote progressive management practices; support socially beneficial products and services; and enrich distressed communities. Portfolio companies exhibit the potential to grow profitably and provide attractive financial returns. For more information, visit the CVI website: http://www.ceiventures.com
CEI Community Ventures, Inc. (CCVI)  Licensed by the US Small Business Administration (SBA), CCVI was formed to direct equity investments and management assistance funds to qualifying businesses located or willing to locate in low-income communities in Maine, Vermont, and New Hampshire. CCVI's mission is to realize a 'triple bottom line' by supporting companies that demonstrate an ability to meet or exceed our financial, social and environmental aims. CCVI investments range between $100,000 and $500,000. Working with partner funds, CCVI can help coordinate and/or lead larger financings (up to $5 million) with investors that share CCVI's outlook and criteria. For more information, visit the CCVI website: http://www.ceicommunityventures.com/
CEI Capital Management LLC (CCML)
CCML is a for profit wholly owned CEI subsidiary that furthers CEI's mission by working to help attract capital to low-income areas using the New Markets Tax Credit Program (NMTC). CEI and CCML take a mission-oriented approach as an NMTC sponsor when underwriting perspective transactions.
CEI Investment Notes, Inc. Community investing – Community returns CEI Investment Notes are a way for you to invest in your community, to help others, and to reap social, environmental and economic benefits. A CEI Investment Note is purchased for a specific number of years at a fixed rate of interest. Interest is paid annually and the principal is repaid at the end of the term. CEI Development Services (CDS)
CEI Development Services is an internal program that provides consulting and training to community economic development practitioners and policymakers in the US and abroad. By drawing on CEI's extensive, multi-faceted experience gained since its founding in 1977, CDS offers practitioner-oriented services as part of its effort to build a stronger, more sustainable field. |
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CEI IN THE NEWS! |
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CEI partners in the “Cod Academy”. CEI is helping to organize a free cod farming course for large boat fishermen from Maine’s two easternmost coastal counties, Hancock and Washington. Read more here. CEI Investment Notes are a way for you to invest in your community, to help others, and to reap social, environmental and economic benefits. Details here. U.S. Finance Expert Encourages Banking Investment in Maine Communities
At CEI's 32nd Annual Meeting, Ellen Seidman, Exec. VP of ShoreBank in Chicago, and Sr. Research Fellow with the New America Foundation in Washington, DC, urged Maine bankers and community activists to consider “greater community investment…meeting the actual needs of the community, not just counting dollars invested.” See full speech.
See annual meeting remarks by Ron Phillips, CEO, on triple bottom line investing and the next 5 years for CEI. See the 12/14/09 article on CEI and the state of investing in communities. It’s where mission happens… CEI Receives $125 Million in NMTC Through its subsidiary, CEI Capital Management LLC, CEI will use the allocation to attract private capital investments for primarily rural economic development projects. See press release.
CEI Receives Investment Funds
In partnership with Manufacturers Association of Maine, CEI will receive $765,000 over from the Federal Department of Health and Human Services, Office of Community Services (OCS), to finance several job-generating small-to-medium enterprises. This funding will create 78 full-time, year-round jobs. Read press release here. Bangor Savings Bank and CEI offer low-interest loans to small and medium-sized enterprises in disadvantaged areas in Maine. Read more here. |
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Maine Trailer Leasing - Reorganizing through the unexpected... |
Bill Peters and his partner, Richard Donahue, had just purchased Maine Trailer Leasing (MTL) from its longtime owner when disaster struck. September 11th sent the already weak economy into a tailspin, hitting the transportation industry hard. MTL saw core customers in the pulp and paper industry close paper mills and plants in its own backyard.
The new owners realized their old business model as an over-the-road trailer leasing company was not viable for long. Survival meant change. So they reorganized, diversified and brought new energy into their other lines of business - storage, servicing, parts and new trailer sales. With a new motto, "Team Maine Trailer: The Trailer Professionals" and a new management model, MTL employees had more decision-making power, profit-sharing, and knowledge of the company's financial performance. The result? Higher morale, more positive work attitudes, double-digit revenue growth, and a solid customer list that includes LL Bean, Walmart, Dysarts, the State of Maine, the US Armed Forces and Hart Transportations, Inc.
Having the appropriate financing was key to the transition. CEI Ventures, Inc. (CVI), a CEI for profit venture capital subsidiary, saw the potential in MTL and invested $225,000 as part of a larger financing package. To Bill Peters, MTL's president, CVI's investment was crucial. Just as important, CVI's job quality and job creation goals were a "natural fit" with MTL's growth plan.
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Subsidiaries 