in a large number of transactions
across a wide spectrum of industries
Farlie Turner is pleased to announce that it received the award for Distressed Deal of the Year in the Industrial Manufacturing / Distribution Deal category for its sale of Protective Products of America, Inc. (“PPA”) to an affiliate of Sun Capital Partners. The award was presented at the 2011 Turnaround Awards ceremony hosted by M&A Advisor, a national community of M&A professionals, on March 7th in Palm Beach, Florida. Farlie Turner’s Special Situations Group advised PPA in a sale under Section 363 of the Bankruptcy Code to an affiliate of Sun Capital Partners, Inc., a leading private investment firm focused on leveraged buyouts, equity, debt and other investments. The award marks the second year in a row that Farlie Turner has been named a winner by The M&A Advisor for Distressed M&A Deal of the Year.
Farlie Turner & Co. was chosen among 137 finalists to receive an award. The 2011 Turnaround Awards honored deal-teams, deal-makers and firms whose activities set the standard for the industry. An independent body of expert judges that span the M&A industry determined the ultimate recipients of the award. Winners were revealed at the invitation only gala, hosting the top restructuring, turnaround and distressed investing professionals from around the word.
“The award winners represent the best of the turnaround, restructuring and distressed investing industry in 2011 and earned these honors by standing out in a group of very impressive finalists,” said Roger Aguinaldo, CEO of The M&A Advisor. “Farlie Turner should take great pride in their award.”
“We enjoyed working with PPA’s Board and management, its counsel, Berger Singerman, and were especially gratified that we were able to generate an increase in purchase price of over 30% for PPA from the stalking horse bid through a carefully-managed auction process,” commented Steve Zuckerman, Head of Farlie Turner’s Special Situations Group.
Farlie Turner's Special Situations Group specializes in representing underperforming and financially distressed companies. This Group complements Farlie Turner & Co.'s traditional investment banking practice, which focuses on serving growth-oriented middle market companies with enterprise values typically between $30 million and $300 million. Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with the FINRA, provide merger and acquisition, private placement and financial advisory services. Please visit www.farlieturner.com for more information.