Submissions are now being accepted for the 2023 TMA Turnaround and Transaction of the Year Awards! These coveted recognitions showcase the teams of skilled turnaround professionals who come together to create value-oriented solutions in distressed situations. Award winners this year will be honored this fall at The TMA Annual in San Francisco, California.
View the 2022 Turnaround and Transaction of the Year Award winners. 
Rules
Award submission can be a turnaround, a transaction, or a composite of the two. The turnaround or transaction must have closed in 2022. Cases will be judged on both the turnaround and transactional elements. However, the deal does not need to have both components to be eligible.
For the turnaround aspect, please describe the improvements to a business by implementing effective operations, establishing solid management, generating positive cash flow, or effecting other operational enhancements leading to recovery of a struggling business.
For the transactional aspect, please describe the orchestration of a non-operational restructuring, including merger and acquisition, sale, loan, liquidation, debt restructuring, or other capital reorganization, to preserve value in a struggling business.
Questions? Contact awards@turnaround.org.
Submission Deadline April 3, 2023
Judging Criteria
The Awards Committee is carefully composed to represent the diversity of the TMA membership. Entries are judged on individual merit; not all award categories will derive a winner in a given year. As judges review all components of the entry, they look for well-defined, measurable outcomes.
Part 1: Turnaround/Transaction Entry
Nominator Contact Information
Part 2: Key Contact(s)
Part 3: Narrative Descriptions
Part 4: Timeline
Part 5: Historical Financial Statement
Part 6: Information Release
Categories for Both Turnaround and Transaction Awards Include:
“The T&T Awards, among the most prestigious recognitions in the restructuring industry, showcase talent, results-oriented creativity, and innovation that is leading the way to TMA Tomorrow. By participating, you can raise the professional profiles of your teams, all with the people and the power of TMA behind you.” TMA Global Immediate Past Chair Matthew English, CTP
Recipients of this distinguished honor showcase what TMA members do best -- find value where it was lacking, maximize productivity and profitability in seemingly defunct businesses, and perhaps most importantly, save jobs. The Turnaround and Transaction Awards are chosen based on a rigorous peer-review process. The Awards Committee is carefully composed to represent the diversity of the TMA Membership. As the judges review all components of the entry, they look for well-defined, measurable outcomes.
CO-CHAIRS
Sharon F Manewitz, Manewitz Weiker Associates LLC
Jennifer M Meyerowitz, Esq, SAK Management Services LLC
MEMBERS
John D Baumgartner, Grant Thornton LLP
Sara L Chenetz, Perkins Coie LLP
Patrick Diercks, CTP, PKF Clear Thinking LLC
Joseph M. Esmont, Baker & Hostetler LLP
Neil Gupta, SSG Capital Advisors LLC
Randi M. Hershgordon, CPA, Gibraltar Business Capital
Matt Lupton, Larx Advisors, Inc.
DJ Miller, Thornton Grout Finnigan LLP
John J Salmas, Dentons Canada LLP
Bryce A Suzuki, Snell & Wilmer LLP
Reed Upson, Business Capital
Frequently Asked Questions
How does the process work?
After we receive the applications, the awards committee will hold a series of meetings to determine which candidates will be chosen. We aspire to have a list of winners that represent each of the categories for turnaround and transaction.
When do nominations begin?
Applications will open February 22, 2023. The deadline for submissions is April 3, 2023.
Do I have to disclose the company name for the turnaround/transaction I am nominating?
Yes, all confidential entries are not permitted due to the diligence process employed by the Awards Committee.
When does a deal need to close to be considered?
The application is only for cases closed in 2022.
Can I contact you to see how my submission is doing in the judging process?
No. We will not provide status reports. Should we need any additional information, we will contact the nominee or nominator.
What is required of those who are selected?
Winners must complete a release form, which requires the submission of a headshot and company logo. At least one representative from a winning engagement should register and attend the 2023 TMA Annual Conference in San Francisco to be recognized.
Who are Key Contacts?
The key contacts are the people the committee will call so that they can do their diligence and ask about the engagement. The key contacts aren’t necessarily the winners.
Does the nominator have to be on the team that completed the turnaround/transaction or can it be an associate or assistant?
No, the nominator can be anyone. There is no due diligence completed for the nominator.
Read the press release announcing the recipients of the 2022 TMA Turnaround and Transaction of the Year Awards.