Victory Park Capital Wins Two 2014 M&A Advisor Turnaround Awards for Second Consecutive Year
Press Release
Feb 13, 2014
Victory Park Capital (VPC), an asset-management firm focused on debt and equity investments in the lower middle market, is proud to announce it is a multiple winner of the 8th Annual M&A Advisors Turnaround Awards for the successful restructuring and sale of its portfolio company, Ascent Aviation Services Corp (Ascent).
VPC won both the Restructuring Deal of the Year (between $10-50 million) and Industrial Goods and Basic Resources Deal of the Year awards recognizing the firm’s operational turnaround of Ascent. VPC purchased the company in 2009 and redesigned the corporate strategy and all operational processes. VPC reintroduced the company as Ascent in March 2010. Ascent is now a healthy, growing, well-capitalized company and generating industry-leading profit margins. VPC announced the sale of Ascent to LongueVue Capital Partners in October 2013.
“We are honored to be recognized by M&A Advisor and proud of our work and relationship with the Ascent team over the last several years,” said Matthew Ray, partner and co-founder of VPC. “The VPC team managed a successful repositioning that drove strong organic growth; made substantial operational improvements; and executed strategic initiatives to position Ascent for continued success. We are proud to have played a part in Ascent’s transformation”
VPC was previously recognized by M&A Advisor in 2013 as the Consumer and Retail Products Deal of the Year (between $10-250 million) for its successful reorganization of Giordano’s and as the Consumer Services Deal of the Year (between $10-250 million), which honored the firm’s successful operational restructuring of Silver Airways.
In its eighth year, the M&A Advisor Turnaround Awards honors the leading deal teams, firms and dealmakers whose activities set the standard for turnaround, reorganization and restructuring transactions. Recipients of the M&A Advisor Turnaround Award will be recognized on March 11, 2014.
About The M&A Advisor
The M&A Advisor was founded in 1998 to offer insights and intelligence on the M&A market. Over the past 15 years it has established the premier global network of M&A, Turnaround and Finance professionals. Today, it has the privilege of presenting, recognizing the achievements of, and facilitating connections between the industry’s top performers throughout the world with a comprehensive range of services including:
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About Ascent Aviation Services
Ascent, located at Tucson International Airport, has a footprint that consists of 23 acres of concrete ramp, over 34,000 sq ft feet of hangar space, and 88,000 sq ft of backshop and secured consignment space in an ideal desert climate. The FAA and EASA approved repair station specializes in B737 Classic, B737NG, MD80/90, B717, CRJ 100/200, B757 and A320 series aircraft. Ascent performs heavy and line maintenance services, aircraft modification, transition and refurbishment work, aircraft storage and reclamation services, and consigned part sales. Ascent’s objective is to become the premiere narrow body MRO in North America by providing indisputable value complemented by the highest quality professional service. For more information, visit ascentmro.com.