TM Capital Wins Retail & Services Turnaround Deal of the YearJune 2011 | News & Press
TM Capital won the Retail & Services Turnaround Deal of the Year for the reorganization and sale of Jennifer Convertibles to Haining Mengnu Group Co. Ltd.
June 19, 2011 – A record fifty awards were presented by Ms. Andrea Metcalf, Entrepreneur, Contributor to NBC Chicago, Oprah.com and the author of Naked Fitness at the annual TURNAROUND ATLAS AWARDS GALA.
“The past year spotlighted some of the most innovative judicial and non-judicial restructurings and showcases the ingenuity and resiliency of the professionals involved.” said Shanta Kumari, managing partner and chief executive officer at Global M&A Network. “Winners should take pride for completing a remarkable variety of turnarounds demonstrating their resourcefulness, professional talents and leadership.” she added.
The evening featured Hamilton Place Strategies Partners Tony Fratto, who served as Assistant Secretary at the U.S. Treasury Department and as White House Principal Deputy Press Secretary to President George W. Bush along with Steve McMillin, the former Deputy Director at the Office of Management and Budget, on “Debt Divide: The Politics of Deficit.” Approximately 80 percent of the attendees agreed when asked, “If they expected a compromise on raising the debt limit before to August, 2011?”; all the while, less than 20 percent agreed on “Do you anticipate major cuts in the budget prior to 2012 elections?”, in an informal show of hands snap survey.
Gold standard of performance, the annual awards exclusively honors excellence in assignments and deals completed from the restructuring, reorganization and turnaround communities, world-wide. This year 184 finalists were eligible competitors in 30 categories of transactional awards. In addition to the transactional categories, the evening honored eleven (11) industry executive award recipients and separately, nine (9) firms for advising on top transactions for the year. Winners are selected based on “performance” criteria by an independent awards advisory group.
The annual Awards Gala and the day-long Distressed M&A Intelligence Forum was held at The Westin Michigan in Chicago. This year’s theme was “Turnarounds in the New Normal Economy”, and the forum featured leading voices from the corporate, private equity, consultants, financial and legal industry professionals on the most significant issues impacting the reorganization, restructuring and turnaround industries world-wide.