The Turnaround Management Association (TMA) has recognized BRG’s Corporate Finance practice twice in its 2025 Turnaround and Transaction of the Year Awards. Along with additional parties, BRG was honored for the following successful turnarounds and transactions:
Large Company Turnaround/Transaction of the Year Award: WeWork
BRG acted as financial advisor for the Unsecured Creditors’ Committee (the “Committee”) of WeWork throughout its chapter 11 bankruptcy. Congratulations to BRG Managing Directors Mackenzie Shea, Evan Hengel, William Russo, and Christopher Kearns for their role in advising the Committee through this complex situation.
BRG worked alongside other Committee advisors and case professionals to ensure a value-maximizing outcome through the negotiation and implementation of a consensual chapter 11 plan and global settlement. While preserving thousands of jobs, the restructuring allowed WeWork to emerge from bankruptcy with an optimized real estate portfolio and reduced debt burden, enabling the reorganized company to embark on its next chapter.
Non-Profit Company Turnaround/Transaction of the Year Award: Heywood Healthcare
BRG served as advisor to the senior lenders of Heywood Healthcare throughout its chapter 11 bankruptcy. Congratulations to BRG Managing Director Peter Chadwick for his role in supporting the lenders’ path to recovery.
As advisor to the senior lenders, BRG worked collaboratively with the hospital management team, its advisors, and other case professionals to navigate a restructuring of Heywood Hospital’s balance sheet, as well as negotiate and implement terms of a consensual global settlement and plan. The global settlement and plan resulted in a material recovery for the senior lenders and provided sufficient ongoing liquidity for the hospital to maintain operations and continuity of care for its patients and community.
The Turnaround and Transaction of the Year Awards are chosen based on a rigorous peer-review process by the volunteer TMA Awards Committee, which includes extensive diligence of each nominated case. Award winners were honored at the TMA Annual Conference in New Orleans, LA from October 13–17.
