TMA Announces Winners of 2009 Turnaround and Transaction Awards

CHICAGO, Aug. 17 /PRNewswire-USNewswire/ -- In 2009, corporate restructuring
talent helped save the companies involved with Twinkies, the plastic in soda
bottles, and the equipment that often stores these products, and contributed
as well to other turnaround successes. The professionals who made this happen
did so in spite of the economic downturn, a pervasive credit crisis, and the
legal obstacles to restructuring created in the wake of bankruptcy
legislation. They are recipients of the Turnaround of the Year and
Transaction of the Year Awards from the Turnaround Management Association
(TMA), the only international non-profit association dedicated to corporate
renewal and turnaround management.

These winners will be honored during the October 8 keynote luncheon at the TMA
Annual Convention, October 7-9, at the J.W. Marriott Desert Ridge, Phoenix,
Arizona:

Turnaround of the Year Awards for individuals or teams who orchestrated the
most successful turnaround in these categories:

Large Company Turnaround ($300 million USD or greater in revenue):Wellman
Inc., a South Carolina-based manufacturer and marketer of resins used in
plastic beverage bottles for carbonated soft drinks and water and in other
food packaging. Jonathan S. Henes, Kirkland & Ellis LLP, led the turnaround
team.

Mid-size Company Turnaround (Revenue between $50 million and $300 million
USD):Gerber Plumbing Fixtures LLC, a family-owned plumbing manufacturer and
distributor to the trade, in Lincolnwood, Illinois. The turnaround team
included:

-- Mitchell B. Rasky, team leader, The PrivateBank
-- Steven Buford, Bank of America
-- Robert Corsentino, The PrivateBank

-- Michael Werner, CEO, Globe Union Group Inc.

Small Company Turnaround (Revenue of $50 million or less USD):Commercial
Foodservice Repair, Inc., provider of onsite installation, repair and
maintenance of equipment for convenience stores, restaurants and other
retailers, Greenville, South Carolina. Kurt Herwald, CTP, Chandelle Advisors
Limited, led the turnaround team.

Transaction of the Year Awards for individuals whose teams have orchestrated
the transaction (non-operational restructuring) with the greatest impact in
this category:

Large Company Transaction ($300 million USD or greater in revenue at time of
transaction):Interstate Bakeries Corporation, Kansas City, Missouri-based
baker and distributor of fresh-baked bread and sweet goods such as Wonder
Bread and Twinkies. The transaction team included:

-- Robert A. Campagna, primary financial advisor, Alvarez & Marsal
North America, LLC
-- J. Eric Ivester, counsel, Skadden, Arps, Slate, Meagher & Flom LLP

-- Lloyd A. Sprung, lead banker, Miller Buckfire & Co., LLC

Mid-Size Transaction (Revenue between $50 million and $300 million USD):Lyman
Lumber Company, residential building materials supplier, Excelsior, Minnesota.
The transaction team co-leaders were:

-- James L. Baillie, Fredrickson & Byron, P.A.

-- Michael Knight, Alliance Management

"This year TMA selected a handful of turnaround professionals who performed an
exemplary service in guiding companies, both large and small, through this
difficult environment, saving both companies and jobs in the process," said
Mette H. Kurth, chair of the TMA's 2009 Awards Committee and a partner with
Arent Fox LLP in Los Angeles, California. "The winners this year exemplify
the ability of turnaround professionals to apply unique solutions and tools to
overcome complex and challenging situations. They also represent the
significant results that can be achieved by using well-executed, textbook
turnaround management techniques to transform a troubled company of any size
in a variety of industries."

The Chicago-based Turnaround Management Association has nearly 9,000 members
in 45 regional chapters who comprise a professional community of turnaround
practitioners, attorneys, accountants, investors, lenders, venture
capitalists, appraisers, liquidators, executive recruiters and consultants.

SOURCE Turnaround Management Association

Marilyn Canna of Turnaround Management Association, +1-312-334-2581,
mcanna@turnaround.org