27.01.2014

Ahern turnaround wins award

Del Mar Asset Management has won the Restructuring Deal of the Year (Over $500 million to $1 billion) award in the M&A Advisor Turnaround Awards for the work it did with Ahern Rentals during its Chapter 11 process.

David Fergusson, president of The M&A Advisor said: “Del Mar was chosen from over 500 participating companies to receive the award and represents the best of the distressed investing and reorganization industry in 2013.”

Del Mar partner Matthew Rothfleisch added: "The resolution of the Ahern transaction was favourable for all involved. This success was the result of a coordinated team effort. Our group operated extremely well together and the leadership provided by both Houlihan Lokey and Bracewell & Guiliani helped facilitate the desired outcome.”

Ahern Rentals emerged from the Chapter 11 process last July with its ownership intact, after a long hard 18 month battle with its note holders - see:Ahern emerges. Since then the owner Don Ahern has gone on to acquire Snorkel aerial lifts and Alliance Rental.