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The Journal of Private Equity

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Primary Article

Turnaround Delivers on Promise of Acquisition Strategy

Scott Brown
The Journal of Private Equity Spring 2005, 8 (2) 59-64; DOI: https://doi.org/10.3905/jpe.2005.490420
Scott Brown
A director at Corporate Revitalization Partners, LLC (CRP) and is currently on assignment as manager of global marketing and investor relations for Measurement Specialties, Inc. in Wayne, PA.
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Abstract

Bolstered by five significant acquisitions, Measurement Specialties, Inc., (MSI) a publicly traded (AMEX: MSS) manufacturer of consumer scales and industrial sensors, enjoyed heady growth from 1998 through 2001. However, flaws in the rapid growth strategy began to appear in 2002 when cost synergies failed to materialize and demand slackened. The MSI board engaged Corporate Revitalization Partners, LLC (CRP) to lead management in restructuring and operational improvements with Frank Guidone as interim CEO and a small team from CRP. Eight months later, productivity had increased 50%, and MSI reported its first positive quarterly earnings in more than two years. Debt had been reduced from nearly $35 million to less than $5 million and MSI outperformed the banks' best-case scenarios. How CRP achieved these results earned Guidone the 2004 Mid-Size Company Turnaround of the Year Award from the Turnaround Management Association.

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The Journal of Private Equity
Vol. 8, Issue 2
Spring 2005
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Turnaround Delivers on Promise of Acquisition Strategy
Scott Brown
The Journal of Private Equity Feb 2005, 8 (2) 59-64; DOI: 10.3905/jpe.2005.490420

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Turnaround Delivers on Promise of Acquisition Strategy
Scott Brown
The Journal of Private Equity Feb 2005, 8 (2) 59-64; DOI: 10.3905/jpe.2005.490420
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