This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

FTI Consulting Named A 2013 TMA Turnaround And Transaction Of The Year Winner

Stock quotes in this article: FCN

WEST PALM BEACH, Fla., Oct. 2, 2013 /PRNewswire/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced that the Turnaround Management Association (TMA) has awarded FTI Consulting the "Transaction of the Year: Large Company" for its efforts on Cagle's, Inc. and Cagle's Farm, Inc. ("Cagle's" or "Company"). The firm and engagement team members Keith Cooper, Sean Harding and Jaqueline Brock will be honored during the 2013 TMA Turnaround and Transaction of the Year Awards being held at the 25 th TMA Annual Conference, taking place in Washington, D.C. on October 3-5, 2013.

"We are pleased to be recognized as one of this year's TMA Transaction of the Year Award recipients," said Kevin Lavin, Global Co-leader of the FTI Consulting Corporate Finance/Restructuring segment. "Our work with Cagle's affirms our commitment to excellence and is a striking example of how we collaborate and work to preserve and create value for our clients and key stakeholders."

Cagle's was a vertically integrated poultry company with a 70-year history. FTI Consulting represented the company in its Chapter 11 bankruptcy proceedings and played an instrumental role in negotiating with the existing secured lender to save the company from the brink of liquidation after it lost financing availability. The FTI Consulting team assumed day-to-day operating management responsibilities during the course of the bankruptcy and led a successful orderly sale process of the business.

As a result of the sale and marketing efforts, a competitive auction occurred that resulted in a winning bid of approximately $91.0 million tendered by a strategic buyer. The company was able to pay all secured, administrative and unsecured claims in full with interest, as well as make substantial equity distributions to the company's equity owners at more than $3 per share. More important, the transaction preserved the company's business and saved more than 1,600 jobs. In addition, the buyer plans to add another 1,100 jobs by increasing production at former processing plants and investing in new processing lines.

Keith Cooper, the Cagle's engagement leader and a Senior Managing Director in the firm's Corporate Finance/Restructuring segment said, "This engagement is a true success, and I am most proud that we were not only able to save jobs, but also aid in the creation of new jobs in an economic environment where unemployment and underemployment continue to be a critical issue."

Since 1993, TMA has honored excellence through its annual awards program, which recognizes the most successful turnarounds and impactful transactions. The TMA noted that this year's winners saved countless jobs and made a significant economic impact, both locally and globally.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs