Transaction of the Year Award Presented to Manty & Associates, P.A.
Manty & Associates, P.A. and Nauni Manty, as chapter 11 operating trustee, were recently recognized by the Upper Midwest Chapter of the Turnaround Management Association for their work in a transaction with Fifty Below Sales and Marketing.
The Upper Midwest Chapter of the Turnaround Management Association presented the award for its “2013 Transaction of the Year” to Chapter 11 operating trustee Nauni Manty, Jacqueline Williams, Nancy Jaeckels and Cassondra Williams, and the Eden Prairie-based Platinum Group at its monthly meeting on January 16th. The Chapter annually recognizes member firms and advisors for accomplishments that demonstrate exceptional achievement in the field of corporate renewal.
The 2013 award recognizes the Manty & Associates, P.A. team for their roles in the successful sale and transaction in bankruptcy in connection with Fifty Below Sales and Marketing, a Duluth based technology services firm. Fifty Below’s assets were sold in two parts to ARI Network Services, Inc. and Emerald Connect by a motion for sale free and clear in the bankruptcy. The transaction was concluded in less than three months and saved almost 200 jobs in Duluth.
In determining the winner of the “Transaction of the Year” award, the local awards committee considers a variety of criteria including: company circumstances leading up to the transaction; company market positions for its products or services; jobs saved; impact on unsecured creditors; economic impact on the local economy; comparison of company performance prior to and after the transaction; and valuation upon sale or liquidation of the company.
Nauni Manty attributes her success and that of Platinum Group to the dedication and loyalty of the Fifty Below Sales and Marketing employees and others she employed in the case to assist her with the sale of the company.