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Strategic Management Partners Wins Boutique Turnaround Consulting Firm Award
Thursday, July 02, 2009
Strategic Management Partners has won the Turnaround Consulting Firm of the Year (Boutique). In addition, John M. Collard is a finalist for Boutique Turnaround Consultant of the Year.
Collard said, "We are honored to receive this prestigious award, and to be singled out for our work in the turnaround and distressed investing industry in this way. These are turbulent times for business. The declining economy was a catalyst for unprecedented changes in government policy to bail out the financial community. However, government omitted language that would compel banks to in turn lend to business to fuel job creation and recovery. Unfortunately, turning around business and creating jobs will be slow and cumbersome until government corrects this situation or until the private equity community steps in with private capital, because the banks are not lending.
"This depressed market provides an excellent time to buy distressed companies because their owners are willing to make a deal. It is a poor time to sell a company because the return multiples are low and the financing almost nonexistent. To turn companies around in this economic climate is tough; you need to drive revenues in the face of depressed consumer buying motivation, and you need capital to finance the recovery. The buying public has tightened their belts and financing is difficult to come by. However, there are strategies to invest, turn those investments in a positive direction, raise financing, and then sell at increased multiples."
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