Public Press Release
SOUTHLAKE, TEXAS, September 8th, 2008 – Insight Equity Holdings, LLC (“Insight”), is proud to announce that they have been honored by the Turnaround Management Association (TMA) as 2008’s Mid-Sized Company Turnaround of the Year for the acquisition and enhancement of Hirschfeld Steel Group, a premiere fabricator of structural steel for bridges, stadiums, mass transit structures, industrial facilities and other industrial and commercial projects. Insight acquired Hirschfeld Steel Group, based in San Angelo, Texas, in April 2006.
TMA’s recognition of Insight’s investment in and turnaround of Hirschfeld Steel Group highlights Insight’s ability to partner with long time equity holders and drive value creation insights during turbulent times. While most Investors were shying away from steel fabricators, Insight partnered with the Hirschfeld family to create a success story in the industry positioned for significant long-term growth and success.
“We thank the TMA for this recognition. We are proud of the success we have enjoyed at Hirschfeld. Insight’s model of transforming underperforming operations to create significant value requires a lot of hard work and a close working relationship with the ownership group and management team. We thank the Hirschfelds and the Hirschfeld management team for all of their valued efforts,” said Conner Searcy, a Partner with Insight.
On August 28th, 2008, Turnaround Management Association (TMA), the only international non-profit association dedicated to corporate renewal and turnaround management, announced that its 2008 Turnaround of the Year and Transaction of the Year award recipients had been selected. Winners will be honored at a luncheon on October 28th, 2008 at TMA’s Annual Convention, which will be held on October 27th-29th at the New Orleans Marriott.
About Insight Equity
Insight Equity (www.insightequity.com) makes control investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight specializes in partnering with companies experiencing some level of underperformance. Insight also seeks complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership. The firm leverages a proven collaborative value creation model to facilitate operational enhancements and growth.