NEW YORK, March 22, 2011 /PRNewswire/ -- Conway, Del Genio, Gries & Co. (CDG) has been honored by The M&A Advisor with four 2011 Turnaround Awards for their work with TLC Vision, a diversified eye care provider, and Penn Traffic, a leading food retailer and wholesaler.
CDG was chosen among 137 finalists to receive the Turnaround of the Year Award and the Healthcare and Life Sciences Sector Award for the Chapter 11 Reorganization of TLC Vision. CDG's work on the Chapter 11 Reorganization and 363 Sale of Penn Traffic to Tops Markets garnered the Distressed M&A Deal of the Year and the Retail Manufacturing and Distribution Sector 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 world.
"The entire CDG team would like to congratulate and thank all those involved on both deals whose collaboration and dedication contributed to these successful outcomes," said Michael Gries, co-founder of CDG. "Our participation in TLC was especially rewarding as we were able to provide a full recovery to the senior lenders, substantially increase the recovery for unsecured creditors and protect the doctors and their patients from any disruption in service," continued Mr. Gries. "The sale of Penn Traffic was also particularly gratifying, as we were able to prevent the company from being liquidated and save the jobs of over 4,000 employees while providing full recoveries to the senior lenders and significant recoveries to unsecured creditors," added Ben Jones, a Senior Managing Director of CDG.
"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. "CDG should take great pride in their awards."
"We could not be more pleased having been recognized among such an esteemed group of professionals," said Mr. Gries. "Our firm's mission is to provide the right advice to deliver the best results for our clients; winning these awards is a testament that we live up to our goals."
A complete list of the winners is attached and can be accessed at www.maadvisor.com.
Conway, Del Genio, Gries & Co (CDG)
Conway, Del Genio, Gries & Co., LLC ("CDG") is a leading restructuring, turnaround management and M&A advisory firm. CDG is committed to providing senior level services through a collaborative process that draws upon the diverse experience of its professionals. Since 1998, CDG's has successfully completed hundreds of restructuring, turnaround management and M&A transactions across a broad range of industries. For more information, please contact Jaclyn Smith, 212-813-5779, firstname.lastname@example.org. www.cdgco.com
THE M&A ADVISOR
Since 1998, The M&A Advisor has been the preeminent organization facilitating connections and recognizing achievement in the top performers of the M&A, turnaround and financing industries through its leading Awards, Summits, M&A ALERTS™ newsletters, M&A LINKS™ social network, M&A MARKET INTEL™ research and publishing service and M&A CONNECTS™ business development services.
For more information, visit www.maadvisor.com.
SOURCE Conway, Del Genio, Gries & Co.