April 10, 2017
PROPHET EQUITY'S ACQUISITION OF TOTAL PLASTCS ANNOUNCED AS WINNER OF THE 11th ANNUAL TURNAROUND AWARDS
SOUTHLAKE, TX- The M&A Advisor announced the winners of the 11th Annual Turnaround Awards on Monday, January 30th. Prophet Equity and its carve-out of Total Plastics from A.M. Castle was named a winner for the Divestiture Deal of the Year Award (Over $50M to $100M). The awards were presented at a Black Tie Gala on Thursday, March 23rd at The Colony Hotel, Palm Beach, FL.
"Since 2002, we have been honoring the leading turnaround transactions, companies and dealmakers. Prophet Equity was chosen from over 300 participating companies to receive the award. It gives us a great pleasure to recognize Prophet Equity and bestow upon them our highest honor for distressed investing and reorganization firms and professionals," said David Fergusson, Co-CEO and President, The M&A Advisor. "Prophet Equity represents the best of the distressed investing and reorganization industry in 2016 and earned these honors by standing out in a group of very impressive candidates."
"We are honored to be selected as the recipient of the Divestiture Deal of the Year," said Brian Hegi, Managing Director of Prophet Equity. "Completing the complicated carve-out of Total Plastics from AM Castle in just seven weeks was a testament to our talented team at Prophet Equity and our 3rd party due diligence partners."
"The acquisition of Total Plastics in a very compressed timeframe was another example of industry wide recognition of Prophet Equity's unique ability to rapidly validate and purchase strategically viable platforms, in the midst of very complicated and extremely time sensitive transaction dynamics," commented Prophet Equity's CEO and Managing Partner, Ross Gatlin. "Total Plastics is now positioned perfectly to consolidate the highly fragmented value added plastics distribution industry.
The Awards Gala is a feature of the 2017 Distressed Investing Summit. The Summit took place on March 22-23 and featured 200 of the industry's leading professionals participating in exclusive interactive forums led by a faculty of restructuring industry stalwarts and Bloomberg media experts. The Mar-A-Lago Club hosted our opening night reception and Palm Beach's exclusive Colony Hotel was home to the Symposium, Awards Celebrations and our infamous Closing Party. For an event profile CLICK HERE.
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The M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past nineteen years we have established the premier global network of M&A, Turnaround and Finance professionals. Today, we have the privilege of presenting, recognizing the achievements of, and facilitating connections between the industry's top performers throughout the world with a comprehensive range of services. To learn more visit www.maadvisor.com