10th Annual M&A Advisor Turnaround Awards Winner
Huron was selected as a winner of the 10th Annual M&A Advisor Turnaround Awards in two categories; Restructuring Technology Deal of the Year and Restructuring Deal of the Year ($25MM-$50MM). The nominations, representing over 200 participating companies, were judged by an independent jury of industry experts.
Restructuring Technology Deal of the Year: Allen Systems Group
ASG provides mission-critical enterprise information technology management software solutions to large enterprises and small and medium-sized businesses in a variety of industries. The restructuring occurred through a prepackaged bankruptcy, confirmed in 45 days, which restructured $660M of pre-petition debt into $240M of post-emergence secured debt.
The team included: John DiDonato, Ray Anderson, Brett Anderson, Matthew Fisher, and Joe Polancich
Restructuring Deal of the Year: Lee Steel Corporation
Lee Steel was a top-tier service center, providing a full range of flat rolled steel primarily to tier 1 and tier 2 automotive suppliers. The restructuring occurred via a chapter 11 process that involved a collaborative effort between HBA and HTA teams. At filing, secured debt was approximately $50 million and Huron effectuated a full recovery for Huntington and administrative claimants through cash generated from operations resulting from cost reductions and working capital enhancements, coupled with the sale of the business which generated proceeds of $39.1 million.
The team included: Laura Marcero, Jamie Lisac, Matthew Fisher, Matthew Kazin, Ken Fontaine and Breann Shrock-Kueber
To read the full press release, click here.