Charlesbank Capital Partners, LLC and H.I.G. Capital, LLC were awarded “Turnaround of the Year (Lower Middle Market)” at The M&A Advisor’s 5th Annual Turnaround Awards Gala last week in Palm Beach, FL. The two private equity firms were recognized for their Chapter 11 reorganization of TLC Vision, North America’s premier eye care services provider, last year. They share the award with law firm Proskauer Rose.
“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, a middle-market networking group. An independent body of experts from across the M&A industry determined the award recipients.
Sponsored by Charlesbank and H.I.G., TLC Vision exited Chapter 11 in May 2010, after only five months of restructuring. TLC emerged a newly reorganized, private company with its balance sheet deleveraged, its debt repaid in full and significant capital made available for future expansion.
ABOUT M&A ADVISOR
Founded in 1998, The M&A Advisor serves as a resource for and network of professionals from the mergers and acquisitions, turnaround and finance industries. For more information, please go to www.maadvisor.com.
ABOUT H.I.G. CAPITAL
H.I.G. Capital is a leading global private equity investment firm with more than $8.5 billion of equity capital under management. Based in Miami, and with US offices in Atlanta, Boston, New York and San Francisco, as well as European affiliate offices in Hamburg, London and Paris, H.I.G. specializes in providing capital to small- and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed service or manufacturing businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 50 companies with combined revenues in excess of $8 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
ABOUT CHARLESBANK CAPITAL PARTNERS
Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. For more information on the firm, visit www.charlesbank.com.