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Fredrikson & Byron and Alliance Management won the 2016 Transaction of the Year Award from the Turnaround Management Association (TMA) in the “Small Company” category for the successful and value-maximizing sale of assets of HEI, Inc. under section 363 of the Bankruptcy Code. The Transaction of the Year Award recognizes the most successful turnarounds and impactful transactions. This year’s winners saved countless jobs and made a significant economic impact, both locally and globally. The TMA will honor 55 professionals at Disney’s Yacht Club Resort in Lake Buena Vista, Florida, on November 3.

HEI, Inc. was a publicly traded engineering and manufacturing firm that specialized in printed circuit boards, microchips and related interconnected products. It had operations in Minnesota, Arizona and Colorado. Fredrikson and Alliance Management successfully structured and then executed a sale strategy that maintained output of products critical to HEI’s customers, maximized sale proceeds and preserved jobs.

Fredrikson’s legal team for the sale included James C. Brand, Sarah M. Olson, James L. Baillie and Steven R. Kinsella.

The Turnaround Management Association is the leading organization dedicated to turnaround management, corporate restructuring, and distressed investing. Established in 1988, TMA has more than 9,000 members in 55 chapters worldwide, including 32 in North America. Members include turnaround practitioners, attorneys, accountants, advisors, liquidators, executive recruiters, and consultants, as well as academic, government and judicial employees.

Fredrikson & Byron is a 275-attorney law firm based in Minneapolis, with offices in Bismarck, Des Moines, Fargo, St. Paul, Monterrey, Mexico, and Shanghai, China. Fredrikson & Byron has a reputation as the firm “where law and business meet”. Our attorneys bring business acumen and entrepreneurial thinking to work with clients, and operate as business advisors and strategic partners, as well as legal counselors. More information about the firm is available at Follow us on LinkedIn and on Twitter @FredriksonLaw.

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