FTI Consulting, Dacarba and Novo Advisors win turnaround awards
FTI Consulting, a professional services firm with operations in nearly 30 countries, has been named by an analyst firm as the globe’s best turnaround consulting firm for the fourth consecutive year. Meanwhile, two US-based boutique consultancies, Dacarba and Novo Advisors, have been lauded for the high quality of their turnaround services.
Every year Global M&A Network, a platform for the mergers & acquisitions and corporate finance world, organizes the ‘Turnaround Atlas Awards’, an awards ceremony that recognizes excellence in the restructuring field. Deal-makers and other turnaround professionals, private equity firms, and venture capitalists are honored for their achievements in restructuring, distressed investing, insolvency, M&A transactions, and turnaround. “The award validates the excellence and tireless work of professionals and firms from the industry. Winners should take pride for effectuating successful restructurings, proving their creativity, expertise, and differentiated talents,” said Shanta Kumari, CEO of Global M&A Network.
In the category ‘Outstanding firms of the year,’ prizes are distributed to professional services firms that belong to a top performer in the industry, with distinguished records of revitalizing companies and a vision to shape their client’s organization.
Specifically for the US market, the award for best boutique turnaround consulting firm went to Novo Advisors, a nimble consultancy co-founded by Sandeep Gupta and Brandon Fosbinder in 2012. The firm focuses on middle-market clients, serving them from offices in Atlanta, Chicago, Denver, and New York. “The Novo Advisors team has owned and operated businesses in a variety of industries. As such, we have a shared understanding of the challenges presented in rapidly evolving commercial and economic environments. We also recognize the importance of collaboration to efficiently achieve team goals – Novo Advisors works in conjunction with management, ownership, the board of directors, and other key stakeholders to evaluate opportunities and deliver positive outcomes,” explained the co-founders.
The top recognition in the category for mid-market turnaround consulting firm of the year was scooped up by Dacarba, a consulting firm that launched just one year ago. With offices in Houston and Dallas, Dacarba supports clients with offerings including complex financial reporting, litigation support and financial advisory, process and technology, restructuring, strategy and organization, and tax. The advisory firm was founded by parent company Opportune in response to the firm’s desire to serve customers outside of the oil & gas industry. “A dozen years ago, Opportune was founded as an oil and gas professional services firm, and we are excited about Dacarba offering our services to other industries,” remarked David Baggett, Managing Partner of both Opportune and Dacarba.
The most successful consultancy of the awards night – which was held at a special gala ceremony in New York – was FTI Consulting. The leading management consultancy and turnaround expert employs 4,600 and generates over $1.8 billion in revenues annually. Global M&A Network recognized FTI Consulting in 21 awards – the most of any firm this year – including in the category of global turnaround consulting firm of the year.
Commenting on the recognition, Michael Eisenband, Global Co-Leader of the Corporate Finance & Restructuring segment at FTI Consulting, said, “Our experts handle some of the most complex restructurings, turnarounds and transactions globally, advising both companies and creditors to achieve the best possible outcomes. These awards highlight our unparalleled expertise, dedication to clients, and commitment to create leading practices around the world that address complex, multi-national, and cross-border situations.”
