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CohnReznick Advisory Among Key Advisors in Special Situations M&A Deal of the Year


6/15/16

8th Annual Turnaround Atlas Awards presented during Restructuring Intelligence Forum

NEW YORK, NY – CohnReznick Advisory was recently honored at the Turnaround Atlas Awards held on May 17, 2016 at Harvard Hall in New York, NY. The award ceremony was presented during the 8th Annual Restructuring Intelligence Forum, where a total 48 transactions successfully completing restructuring and were selected as winners from the world-wide restructuring and turnaround communities.

With a total of 18 “Outstanding Firm of the Year” categories, the winner under the Special Situation M&A Deal of the Year for Small Mid-Markets category was: Coyne International Enterprises Chapter 11 Plan of Reorganization and sale of assets to Cintas, Prudential Overall Supply, Clean Rentals, and Pendera. CohnReznick Advisory served as a key advisor in the deal, along with Andrews Advisory, Getzler Henrich & Associates, SSG Capital Advisors, DLA Piper, Goldberg Kohn, Herrick Feinstein, Keating Muething & Klekamp, Menter Rudin & Trivelpiece, Norton Rose Fulbright, Plourde Bogue Moylan & Marino, and Zdarsky Sawicki & Agostinelli.

“We were able to help navigate the Coyne International Enterprises’ trip through Chapter 11, including the sale of the company to strategic buyers. The sale was exceedingly successful, resulting in payment to the secured lender in full, second lien lender in part and an anticipated  distribution to unsecured creditors,” said Joseph Baum, Director – Restructuring, Litigation & Transactional Services, CohnReznick Advisory. The CohnReznick team was led by Bernard A. Katz and Joseph C. Baum.

For the past eight years, Receiving the Turnaround Atlas Awards winners have been selected independently per performance criteria such as restructuring raison - style, pre/post workout, survivability and sustainability, operational/client/HR metrics, number of creditors, timeliness, jurisdiction; resourcefulness; among additional criteria unique to the award category.

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