The Turnaround and Transaction of the Year Awards

Congratulations to the recipients of the 2022 TMA Turnaround and Transaction of the Year Awards. Award winners will be honored this year at the TMA Annual in Boston, Massachusetts.

View the 2022 Turnaround and Transaction of the Year Award winners. 

Rules

Award submission can be a turnaround, a transaction, or a composite of the two. Turnaround or Transaction needs to be closed in 2021. Cases will be judged on both the turnaround and transactional elements. However, the deal does not need to have both components to be eligible.

For the turnaround aspect, please describe the improvements to a business by implementing effective operations, establishing solid management, generating positive cash flow, or effecting other operational enhancements leading to recovery of a struggling business.

For the transactional aspect, please describe the orchestration of a non-operational restructuring, including merger and acquisition, sale, loan, liquidation, debt restructuring, or other capital reorganization, to preserve value in a struggling business. 

Questions? Contact awards@turnaround.org. 

Judging Criteria 

The Awards Committee is carefully composed to represent the diversity of the TMA membership. Entries are judged on individual merit; not all award categories will derive a winner in a given year. As judges review all components of the entry, they look for well-defined, measurable outcomes.

Part 1: Turnaround/Transaction Entry

Nominator Contact Information 

Part 2: Key Contact(s)

Part 3: Narrative Descriptions

Part 4: Timeline

Part 5: Historical Financial Statement

Part 6: Information Release 

Categories for Both Turnaround and Transaction Awards Include:

• Small Company (company revenue at the time of turnaround was less than $50 million USD)
• Mid-Size Company (company revenue at the time of turnaround was $50 million to $299 million USD) 
• Large Company (company revenue at the time of turnaround was $300 million to $1 billion USD) 
• Mega Company (company revenue at the time of turnaround was at least $1 billion USD) 
• International Company (a company with significant cross-border operations)
• Pro Bono (no fees in exchange for services); entry must demonstrate financial stability
• Non-Profit (a tax-exempt organization without shareholders that uses its surplus net assets to achieve its mission)

About the T&T Awards 

“The T&T Awards, among the most prestigious recognitions in the restructuring industry, showcase talent, results-oriented creativity, and innovation that is leading the way to TMA Tomorrow. By participating, you can raise the professional profiles of your teams, all with the people and the power of TMA behind you.” TMA Global Chair Matthew English, CTP.

Recipients of this distinguished honor showcase what TMA members do best -- find value where it was lacking, maximize productivity and profitability in seemingly defunct businesses, and perhaps most importantly, save jobs. The Turnaround and Transaction Awards are chosen based on a rigorous peer-review process. The Awards Committee is carefully composed to represent the diversity of the TMA Membership. As the judges review all components of the entry, they look for well-defined, measurable outcomes. 

The Turnaround and Transaction of the Year Award Committee

CO-CHAIRS

Sharon F Manewitz, Manewitz Weiker Associates LLC   
Jennifer M Meyerowitz, Esq, SAK Management Services LLC   

MEMBERS    

John D Baumgartner, Grant Thornton LLP    
Kelly J Bourassa, Blake Cassels & Graydon LLP 
Sara L Chenetz, Perkins Coie LLP        
Patrick Diercks, CTP, PKF Clear Thinking LLC        
Joseph M. Esmont, Baker & Hostetler LLP        
Randi M. Hershgordon, CPA, Gibraltar Business Capital    
Matt Lupton, Larx Advisors, Inc.    
Kathryn B. McGlynn,  AlixPartners    
DJ Miller, Thornton Grout Finnigan LLP    
John J Salmas, Dentons Canada LLP    
Bryce A Suzuki, Snell & Wilmer LLP    
James A. Trankina, AlixPartners    
Reed Upson, Business Capital    

FAQs

How does the process work?

After we receive the applications, the Awards Committee holds a series of meetings to determine which submissions will win an award in each category. We aspire to have a list of winners that represent each of the categories for Turnaround and Transaction.  

When do nominations begin?

The submission window opened on May 18, 2022. The deadline for submissions is June 30, 2022.

Do I have to disclose the company name for the turnaround/transaction I am nominating? 

Yes, confidential entries are not permitted due to the diligence process employed by the Awards Committee, and the subsequent marketing and recognition process carried out by TMA Global.

Does the turnaround have to start in 2021 and end in 2021 or 2022?

The application is only for deals completed in 2021. 

Can I contact you to see how my submission is doing in the judging process?

No. We will not provide status reports. Should we need any additional information, we will contact the nominee or nominator.

What is required of those who are selected? 

Complete release form, which requires the submission of a headshot and company logo. A minimum of one winner from a winning engagement should register and attend the 2022 TMA Annual Conference in Boston in order to receive an award. 

Read the press release announcing the recipients of the 2022 TMA Turnaround and Transaction of the Year Awards.