Saving jobs, regaining profitability, avoiding liquidation and thriving after bankruptcy were among the narratives submitted by nominees of the Chicago/Midwest Chapter of the Turnaround Management Association’s (Chicago/Midwest TMA) annual awards. The awards program recognizes members for their outstanding achievements in the corporate renewal profession.
Winners in the following categories were selected: Large Turnaround of the Year – Proskauer Rose LLP and Gas City, Ltd.; Large Turnaround of the Year – Huron Consulting Group Inc. and JHT Holdings, Inc.; Small Turnaround of the Year – Lake Pointe Partners, LLC and Rotonics Manufacturing, Inc.; and Small Transaction of the Year – Mesirow Financial Consulting, LLC, Ungaretti & Harris and Fairview Ministries, Inc.
Turnaround of the Year honors the successful turnaround of a company and Transaction of the Year awards are presented to distressed financial transactions that, if not executed, would have most likely resulted in the failure of a business and lower recoveries to creditors. All winners will be publicly honored at the Chicago/Midwest TMA Executive Speakers Forum on November 28, 2012.
“Businesses and organizations are faced with uncertain times and a still-sluggish economic recovery. But opportunities do exist and turnaround managers bring a unique set of skills to deal with the issues and create value, as demonstrated by our winners,” said co-chair David Enghauser added.
Nominations are judged on a combination of characteristics of the issues involved, the actions taken by the corporate renewal/turnaround professionals, creativity in crafting solutions, overall outcome and results.
TMA Chicago/Midwest Chapter president Harold Israel congratulates each of the award winners on achieving extraordinary results in a very challenging business environment. The award presentation will take place prior to dinner at the Chicago/Midwest TMA’s Executive Speaker Forum on November 28 at the Hilton Chicago at which the Honorable Henry M. Paulson, Jr., Secretary of the Treasury and Geoffrey Colvin, FORTUNE senior editor-at-large will be keynoting. For more information, or to register to attend, please visit http://www.tmachicagomidwest.org.
For more details into Mesirow Financial Consulting’s Small Transaction of the Year award, stay tuned for ABF Journal’s Annual Turnaround Management issue, heading to subscribers in October.