The Turnaround and Transaction of the Year Awards are coveted recognitions that showcase the teams of skilled turnaround professionals who come together to create value-oriented solutions in distressed situations. 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.
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. The Awards Committee selects winners based on the application process, based on their due diligence, and based on discussions they have with various interested parties.
Categories for Both Turnaround and Transaction Awards Include:
- Small Company (company revenue at the time of turnaround was less than $50 million USD)
- Mid-Size Company (company revenue at the time of turnaround was $50 million to $299 million USD)
- Large Company (company revenue at the time of turnaround was $300 million to $1 billion USD)
- Mega Company (company revenue at the time of turnaround was at least $1 billion USD)
- International Company (a company with significant cross-border operations)
- Pro Bono (no fees in exchange for services); entry must demonstrate financial stability
- Non-Profit (a tax-exempt organization without shareholders that uses its surplus net assets to achieve its mission)
The 2025 TMA Turnaround and Transaction of the Year Awards
Submit your application for the 2025 TMA Turnaround and Transaction of the Year Awards by April 14, 2025. Award winners will be honored at the TMA Annual Conference, October 14-17 in New Orleans, LA.
SUBMIT ENTRYThe 2025 Turnaround and Transaction of the Year Award Committee
CO-CHAIRS
Sharon F. Manewitz, Manewitz Weiker Associates LLC
John Salmas, Dentons Canada LLP
MEMBERS
John D. Baumgartner, Getzler Henrich & Associates LLC
Federico Costa, TIM Management
Patrick Diercks, CTP, PKF Clear Thinking Group LLC
Joseph M. Esmont, Baker & Hostetler LLP
Matt Ferris, Haynes and Boone, LLP
Neil Gupta, SSG Capital Advisors LLC
Randi M. Hershgordon, Gibraltar Business Capital
Matt Lupton, MeadowLark Advisors
Mark Melickian, Raines Feldman Littrell LLP
DJ Miller, Thornton Grout Finnigan LLP
IIya Podolyako, Port
Bryce A. Suzuki, Snell & Wilmer LLP
Turnaround and Transaction of the Year Award FAQs
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 for the 2025 awards are accepted March 13 – April 14, 2025.
Do I have to disclose the company name I’m nominating?
Yes, all confidential entries are not permitted due to the diligence process employed by the Awards Committee.
Is there a submission fee?
Yes. Upon submission, award entrants shall be required to remit a submission fee of $299 per entry. This fee shall aid in offsetting a portion of the administrative and operational costs associated with the growing number of applications we receive each year, as well as the increased costs of producing and shipping trophies to winners. Our commitment to celebrating excellence in turnaround and transactions remains unchanged, and this adjustment ensures we can maintain the integrity, prestige, and thorough evaluation that make these awards so meaningful.
When does a deal need to close to be considered?
The application is only for cases that closed the year prior.
Can I contact you to see how my nominee 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?
Register and attend the TMA Annual in New Orleans or send a representative from your firm to participate in the conference and be recognized. You will also be required to fill out an information release to verify the correct spelling of the name/firm, and provide a mailing address for the firm.
Who are the 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?
The nominator can be anyone. There is no due diligence done for the nominator.
Who can attend the Awards Ceremony?
Anyone can attend the awards presentation during the TMA Annual Conference. Winners will be given a discount on the cost of registration, and each firm participating in the winning turnaround/transaction will receive a physical award. If winning firms desire additional physical awards, they can be purchased.
Who is the winner, the people who worked on the case or the winning company?
The Awards Committee selects winners based on the application process, based on their due diligence, and based on discussions they had with various interested parties. The winners that are selected are usually the people that worked heavily on the case like the advisors and local counsel. The company is welcome to attend the awards ceremony and be recognized on stage.