Jennifer Hacker Olsen
Milwaukee, Wisconsin (November 14, 2013) —Wipfli LLP, one of the nation’s leading professional services firms, announced today that its Turnaround and Restructuring Services (TRS) group was honored with the Turnaround of the Year Award presented by the Upper Midwest Chapter of the Turnaround Management Association at its November event in Minneapolis.
Wipfli received the award for its role in helping Robinson Metal, a Midwest metal fabricator and machine shop, to recover following two years of fraud and embezzlement by its former controller, and the impact of the of the recession. In 2012, Wipfli Director David Steichen, along with several of the firm’s associates, worked with the company to stabilize its financial situation and to return the company to profitability.
“This award is in recognition of the collaborative efforts of Wipfli’s Turnaround and Restructuring Services team, Robinson Metal’s ownership and management, and may other professionals and stakeholders who played critical roles,” said David Steichen, who led the firm’s Robinson Metal engagement. “As a firm dedicated to working with our clients to help them overcome their challenges, Wipfli is proud to see all those involved in Robinson Metal’s recovery recognized for their collective accomplishments.”
Wipfli was recognized on November 14 at the Minneapolis Club during the Upper Midwest Chapter of the Turnaround Management Association’s “2013 Turnaround of the Year” event.
Wipfli’s TRS practice advises moderately to severely distressed companies on how to enhance or renew corporate value through such services as profitability improvement, structural reorganization, cost management and financial restructuring. The practice also works with severely distressed companies during the bankruptcy process or other forms of capital restructuring.
This is the second time that Steichen has been awarded for his work in the turnaround and restructuring field. In 2010, Steichen, along with Wipfli TRS Practice Leader Jeff Baker, led a team that was awarded the “Transaction of the Year Award” from the Upper Midwest Chapter of the Turnaround Management Association.
About Wipfli LLP
With more than 1,100 associates, 21 offices in the United States, and two offices in India, Wipfli LLP (Wipfli) ranks among the top 25 accounting and business consulting firms in the nation. For over 83 years, Wipfli has provided private and publicly held companies with industry-focused assurance, accounting, tax and consulting services to help clients overcome their business challenges today and plan for tomorrow. The firm’s clients include manufacturing companies, health care organizations, construction companies, real estate companies, financial institutions, insurance companies, nonprofit organizations, units of government, dealerships, and individuals. Through the firm’s membership in PKF North America, Wipfli can draw upon the resources of 264 firms in 120 countries around the world. For more information, visit www.wipfli.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, executive recruiters, and consultants, as well as academic, government, and judicial employees. http://www.turnaround.org