Bloomfield Hills, MI – Mackinac Partners, a leading financial advisory and turnaround management firm, has been recognized with the 2016 Turnaround of the Year Atlas Award from the Global M&A Network for its role as restructuring advisor to Colt Defense LLC, the iconic American supplier of firearms to U.S. military, law enforcement and civilian customers.
The award was presented on May 17th at the Harvard Club in New York City to Mackinac Partners and the other professional and legal advisors on the Colt Defense Chapter 11 Plan of Reorganization team, including O’Melveny & Meyers, Perella Weinberg Partners, GLC Advisors, Brown Rudnick, Willkie Farr & Gallagher, Cortland Fund Services, Kilpatrick Townsend & Stockton, and Richards Layton & Finger. The team won the Atlas Award for Turnaround of the Year in the Upper Mid Markets category ($250M to $500M).
In addition to the 42 Transactional Atlas Awards, the Global M&A Network also recognized outstanding firms as well as two turnaround and restructuring professionals for industry excellence at the 8th annual forum this year. Mackinac Partners’ Senior Managing Director Keith Maib, who served as Colt’s Chief Restructuring Officer, was named Turnaround Consultant of the Year, Middle Markets.
Maib was also named in the Global M&A Network’s annual list of the “Top 100 Restructuring and Turnaround Professionals”. Mackinac Managing Partner and founder Jim Weissenborn and Maib have both been included in the Top 100 recognition list in previous years.
Upon completion of the restructuring, Colt’s Chief Executive Officer, Dennis Veilleux, also thanked Mackinac Partners for going beyond the ordinary advisory role and becoming “an integral member of our executive team” during the restructuring and transition period. “Not only was the Mackinac Partners team instrumental in guiding Colt through a complex Chapter 11 restructuring, they also led initiatives leading to substantial improvements in our day-to-day operations. These results will benefit us well into the future and played a key role in protecting this iconic American company – for that and more we are very grateful” Veilleux said.
The Turnaround Atlas Awards are awarded annually in global forums to recognize excellence and a“Gold Standard of Performance” among professionals and firms from the global restructuring communities. “Winners should take pride for effectuating successful restructurings by demonstrating their creativity, patience and professional talents.” said, Shanta Kumari, CEO and Global Group Editor at Global M&A Network. For a full list of this year’s recipients, please visit:https://globalmanetwork.com/press-center/