Huron Financial Recognized as Leader of the Mid-Size Turnaround of
the Year for its Work at Bancroft Bag, Inc.
CHICAGO--(BUSINESS WIRE)--Sep. 5, 2013--
Huron Consulting Group (NASDAQ: HURN), a leading provider of business
consulting services, today announced that the Turnaround Management
Association (TMA) has recognized the Company as one of the winners of
the 2013 TMA Turnaround and Transaction of the Year Awards. Huron
Financial was honored for its turnaround of Bancroft Bag, Inc.
“We are very pleased to have been selected as one of this year’s TMA
Turnaround of the Year Award winners,” said John
DiDonato, managing director and Huron
Financial practice leader. “Our work with Bancroft Bag is an
excellent example of an engagement that has benefited multiple
stakeholders while preserving and enhancing the value of the client
Founded in 1924, Bancroft Bag, Inc. operates the single largest
diversified multiwall bag plant in the U.S. and serves a variety of
markets. Coming out of the recession, Bancroft faced a number of serious
strategic, financial and leadership challenges affecting its existence
and the livelihoods of approximately 400 employees. These challenges
resulted in the company hiring Huron to lead the turnaround of its
Anderson, managing director with Huron
Financial, acted as the company’s interim president resulting in the
successful turnaround of the company. Hugh
Sawyer, managing director with Huron Financial, advised the
company’s board during the turnaround. Bancroft returned to
profitability and remains a key employer in West Monroe, Louisiana.
“Leading the transformation of Bancroft was one of the most gratifying
results of my career, and is a testament to the hard work and dedication
of the management team, employees, board and the Bancroft family,” said Anderson.
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.
The 2013 TMA Turnaround and Transaction of the Year Awards will be
presented at the 25th TMA Annual Conference to be held in
Washington, D.C. on October 3-5, 2013.
About Huron Financial
Financial provides financial advisory, restructuring and turnaround,
interim management, valuation, forensic and litigation, and operational
improvement consulting services to companies in transition, boards of
directors and investors and lenders. Our consultants provide senior
level involvement and extensive industry experience to drive results.
Our experienced leadership, management depth and flexible staffing model
allow us to efficiently lead projects ranging from middle market to
large company assignments. Learn more at www.huronconsultinggroup.com/financial
or connect with us on LinkedIn at www.linkedin.com/company/HuronConsulting.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries improve
performance, reduce costs, leverage technology, process and review large
amounts of complex data, address regulatory changes, recover from
distress and stimulate growth. Our professionals employ their expertise
in administration, management, finance, operations, strategy and
technology to provide our clients with specialized analyses and
customized advice and solutions that are tailored to address each
client's particular challenges and opportunities to deliver sustainable
and measurable results. The Company provides consulting services to a
wide variety of both financially sound and distressed organizations,
including healthcare organizations, leading academic institutions,
Fortune 500 companies, governmental entities and law firms. Huron has
worked with more than 95 of the top 100 research universities, more than
400 corporate general counsel, and more than 385 hospitals and academic
medical centers. Learn more at www.huronconsultinggroup.com.
About the Turnaround Management Association
The Turnaround Management Association (turnaround.org)
is the leading organization dedicated to turnaround management,
corporate restructuring, and distressed investing. Established in 1988,
TMA celebrates its 25th anniversary with more than 9,000 members in 48
chapters worldwide, including 31 in North America. Members include
turnaround practitioners, attorneys, accountants, investors, lenders,
venture capitalists, appraisers, liquidators, and executive recruiters,
as well as academic, government, and judicial employees.
Source: Huron Consulting Group
Huron Consulting Group
Jennifer Frost Hennagir, 312-880-3260