News & Insights

Mackinac Partners Receives Two ‘Deal of the Year’ Awards for Playpower Restructuring

August 9, 2012

Bloomfield Hills, MI – Mackinac Partners is pleased to announce the receipt of two industry awards for its role in the successful turnaround and financial restructuring of PlayPower, Inc.

PlayPower, headquartered in Charlotte, North Carolina, is one of the world’s largest, fully integrated manufacturers and marketers of commercial playground equipment and floating marine dock systems.  PlayPower operates manufacturing plants in North America, the United Kingdom and Sweden and sales offices throughout the world.

Keith Maib, Senior Managing Director with Mackinac Partners served PlayPower in various capacities, including Interim Chief Financial Officer, Interim Chief Executive Officer and Director from August 2010 to July 2012.  Mr. Maib continues as a member of the Company’s Board of Directors.  Miller Buckfire & Co. served as financial advisors to PlayPower and Willkie Farr and Gallagher LLP served as legal counsel to PlayPower.  In spite of continued challenges in global market dynamics, the turnaround and financial restructuring has positioned PlayPower for future growth and sustained profitability.

PlayPower’s professional advisors were recognized with the following awards:

M&A Advisor’s Industrial Manufacturing / Distribution Deal of the Year ($250 million+), – The M&A Advisor is a premier membership network consisting of professionals focused on mergers and acquisitions, turnaround and finance.   The M&A Advisor Awards are widely recognized as a pinnacle of achievement, recognizing excellence in deal making, accomplishments and contributions of the industry’s top performers throughout the United States and international markets.

The Global M&A Network’s Turnaround of the Year Middle Market ($250million+),
The Global M&A Network recognizes world-wide excellence in the restructuring and turnaround communities. The Turnaround Atlas Awards honors leaders, professionals, transactions and firms from the distressed, special situations, M&A, and turnaround communities for successful deals and assignments.