Turnaround Management Association (TMA) Chicago/Midwest Announces Annual Award Winners; Honors Corporate Renewal Pros and Projects

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Presentation to be held at May 13th Annual Breakfast Forum

Their [the nominees and winners'] tremendous successes set the standard for restructuring professionals in the Midwest, and around the world.

Distressed companies brought back from the brink with smart financial transactions. Struggling companies restructured, avoiding bankruptcy and closure, moving back to profitability. Thousands of jobs saved.

These are the kinds of stories included among the nominations for the Turnaround Management Association Chicago/Midwest annual awards program that recognizes outstanding achievements in the corporate renewal profession.    

Five companies and two individuals will be honored at the TMA Chicago/Midwest Annual Awards presentation during the association’s Breakfast Forum in Chicago on May 13, 2011. The awards include Large, Mid-Size and Small Company Turnaround, Large and Small Company Transaction, and Individual Merit Awards for Outstanding Service.

“Each of the nominees had merit and are great case studies in outstanding work” said Jeff Hyland, co-chair of the TMA Awards Committee Judging Panel. “It was very difficult to select winners for each of this year’s categories -- all the nominees ultimately made such an important difference in the life of a company.”

Restructuring professionals are by nature problem solvers, and the macroeconomic backdrop has provided members of the TMA with numerous problems to solve throughout the past few years,” co-chair David Enghauser added. “The nominees each worked diligently on behalf of their clients, all experiencing great success. Accordingly, we would like to give our warmest congratulations to each of the nominees. Their tremendous successes set the standard for restructuring professionals in the Midwest, and around the world. Of course, to this year’s winners, we offer special congratulations, as they continue to demonstrate new levels of excellence for the entire industry.”

The 2010 Award winners are:
Large Company Turnaround of the Year:
Smurfit Stone, submitted by PricewaterhouseCoopers LLC

Mid-Size Company Turnaround of the Year:
Franciscan Sisters of Chicago, submitted by Mesirow Financial Interim Management LLC

Small Company Turnaround of the Year:
Core Systems, submitted by Horizon Advisors LLC

Large Company Transaction of the Year:
National Envelope Corp., submitted by William Blair & Co.

Small Company Transaction of the Year:
Addison McKee Holdings, submitted by Arbor Point Capital Partners

Outstanding Service Awards:
Aaron Hammer, Freeborn & Peters LLP and Mark Leipold, Gould & Ratner LLP

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.

The event will be held 8 a.m. - 9:30 a.m. at The Standard Club, 320 South Plymouth Court, Chicago. Doors open at 7:30 a.m. for networking and light breakfast. For more information, or to register to attend, please visit http://www.tmachicagomidwest.org .

About TMA Chicago/Midwest

The Chicago/Midwest Chapter of The Turnaround Management Association is the largest, fastest-growing chapter of the only international non-profit association dedicated to corporate renewal and turnaround management. Incorporated in 1991, the award winning, 1,000 -member Chicago/Midwest Chapter is celebrating its 20th year of serving its community. Its active membership participates in more than 30 events annually, including educational workshops, networking programs, forums and conferences.

Established in 1988, TMA has more than 9,000 members in 47 chapters, including 32 in North America, and one each in Australia, Brazil, the Czech Republic, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Southern Africa, Spain, Sweden, Taiwan and the UK, with a chapter in formation in Hong Kong/China.

Contact for TMA Chicago/Midwest:
Stephanie Kerch 773-405-1753; sbkerch(at)yahoo(dot)com

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Stephanie Kerch
TMA Chicago/Midwest Chapter
(847) 433-5745
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