RT Journal Article
SR Electronic
T1 Roman, Inc.: <em>From Liquidation Planning to Turnaround of the Year</em>
JF The Journal of Private Equity
FD Institutional Investor Journals
SP 44
OP 49
DO 10.3905/JPE.2009.12.3.044
VO 12
IS 3
A1 David Bagley
YR 2009
UL https://pm-research.com/content/12/3/44.abstract
AB Roman, Inc., a mid-sized wholesale distributor of giftware, seasonal dècor, and collectibles located in Bloomingdale, Illinois, was in the process of closing down when it engaged MorrisAnderson to maximize value from the liquidation. Dave Bagley, managing director with MorrisAnderson, assisted CEO Dan Loughman and COO Pat Pipp in developing a business plan that rejuvenated the company. Roman was transformed from annual losses of $3 million to profits of $2 million. In 2008 Roman was awarded the Turnaround Management Association (TMA) Chicago/Midwest Chapter’s Medium Turnaround of the Year award, and the TMA International Mid-Sized Turnaround of the Year, Honorable Mention.TOPICS: Private equity, financial crises and financial market history, technical analysis, manager selection