KPMG Corporate Finance LLC`s Vivitar Deal Named Special Situations M&A Deal of the Year at the Turnaround Atlas Awards Gala
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BALTIMORE--(Business Wire)-- KPMG Corporate Finance LLC, an independent, middle-market investment bank, announced that Sakar International`s acquisition of Vivitar from Syntax-Brillian Corporation -- a transaction for which KPMG Corporate Finance advised Vivitar -- was a winner of the Turnaround Atlas Awards` Special Situations M&A Deal of the Year. KPMG Corporate Finance was chosen among 33 other winners at the Turnaround Atlas Awards ceremony, held at the Historic Walnut Room at Hotel Allegro in Chicago on Monday, June 22, 2009. The awards gala and ceremony, presided by the evening`s host and master of ceremonies Mr. Jeff Flock, business reporter with FOX Business News Network, were attended by prominent leaders and executives from the industry. "The Vivitar transaction was a challenge given the speed of the process but was nonetheless a huge success based upon the value achieved," said Lorie Beers, managing director with KPMG Corporate Finance LLC`s Special Situations Advisory Group (SSAG). "We are proud to receive the Atlas award for this deal." Shanta Kumari, chief executive officer of Global M&A Network, added: "Today, the demand for top talent gathered at the Turnaround Atlas Awards gala is vital for preserving industries, jobs and rebuilding of the American economy and competitiveness. Winners and finalists can take pride for completing an impressive array of turnarounds requiring creative collaboration and the very best from the industry." KPMG Corporate Finance conducted a competitive, expedited auction process that generated interest from several diverse counterparties including liquidators, private equity firms, and strategic investors. KPMG Corporate Finance met the objectives of the Company and its Lender by closing a sale in mid-August 2008, only seven weeks after becoming engaged. KPMG Corporate Finance created the marketing materials which were distributed to more than 300 potential counterparties, coordinated management meetings and due diligence, and assisted the Company and Lender in successfully negotiating a sale to Sakar International, Inc., a 30-year-old, family-owned consumer electronics manufacturer based in Edison, New Jersey. Despite the speed of the process, KPMG Corporate Finance exceeded the value expectations of the Company and Lender. About KPMG Corporate Finance LLC KPMG Corporate Finance provides a full suite of investment banking and advisory services to its domestic and international clients. Their professionals have the experience and depth of knowledge in global M&A and project finance to advise clients on mergers and acquisitions, sales and divestitures, buy-outs, financings, debt restructurings, equity recapitalizations, fairness opinions, infrastructure project finance and other advisory initiatives. In addition, KPMG Corporate Finance remain independent of financing sources, helping to ensure that our efforts are objective and aligned with the goals of KPMG`s firms` clients. Operating in 62 countries, KPMG's Corporate Finance practice comprises more than 2,200 professionals who are able to meet the needs of KPMG's firms` clients across the globe. In 2008, as a leading financial adviser, KPMG's Corporate Finance practice completed 390 deals totalling US$51.5 billion, according to Thomson Reuters` global M&A league tables. Allison & Partners Alyssa Van Wie, 202-223-9260 alyssa@allisonpr.com or KPMG Corporate Finance LLC Irene Vasilakopoulos, 410-949-8733 ivasilakopoulos@kpmg.com Copyright Business Wire 2009
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