About Us

Facebook Twitter LinkedIn Email Share

Turnaround and Transaction of the Year Awards

 

The Turnaround and Transaction of the Year Awards

 

Submissions are now being accepted for the 2024 TMA Turnaround and Transaction of the Year Awards! These coveted recognitions showcase the teams of skilled turnaround professionals who come together to create value-oriented solutions in distressed situations. Award winners will be honored this fall at The 2024 Annual in Philadelphia, Pennsylvania. 


APPLY NOW

View the 2023 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 2023. 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.

 

Awards OPEN March 5, 2024

Deadline Extended to April 10, 2024


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. All submissions need to close between January 1, 2023, and December 31, 2023. The Awards Committee selects winners based on the application process, based on their due diligence, and based on discussions they have with various interested parties.

 

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.)

 



“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 Past 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

John Salmas, Dentons Canada LLP

 

MEMBERS   

John D Baumgartner, Grant Thornton LLP   

Patrick Diercks, CTP, PKF Clear Thinking Group LLC       

Joseph M Esmont, Baker & Hostetler LLP       

Neil Gupta, SSG Capital Advisors LLC

Randi M Hershgordon, CPA, Gibraltar Business Capital   

Matt Lupton, Larx Advisors, Inc.    

DJ Miller, Thornton Grout Finnigan LLP      

IIya Podolyako, Port

Jennifer Stam, Norton Rose Fulbright Canada LLP

Bryce A Suzuki, Snell & Wilmer LLP    

 

 

 

 

FAQs

How does the process work?

After we receive the applications, the awards committee will hold a series of meetings to determine which candidates will be chosen. We aspire to have a list of winners that represent each of the categories for turnaround and transaction.

 

When do nominations begin?

Applications open on March 5, 2024. The deadline for submissions has been extended to April 10, 2024.

 

Do I have to disclose the company name I’m nominating?

Yes, all confidential entries are not permitted due to the diligence process employed by the Awards Committee.

 

When does a deal need to close to be considered?

The application is only for cases closed in 2023.

 

Can I contact you to see how my nominee 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?

Register and attend the TMA Annual in Philadelphia, Provide headshot and logo. Fill out information press release.

 

Who are the Key Contacts?

The key contacts are the people the committee will call so that they can do their diligence and ask about the engagement. The key contacts aren’t necessarily the winners.

 

Does the nominator have to be on the team that completed the turnaround/transaction, or can it be an associate or assistant?

The nominator can be anyone. There is no due diligence done for the nominator.

 

Who can attend the Awards Ceremony?

Winners who worked on the case or representatives of the firms

 

Who is the winner, the people who worked on the case or the winning company?

The Awards Committee selects winners based on the application process, based on their due diligence, and based on discussions they had with various interested parties. The winners that are selected are usually the people that worked heavily on the case like the advisors and local counsel. The company is welcome to attend the awards ceremony and be recognized on stage.