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February 22, 2012

Phoenix Receives Industry Awards

Phoenix is honored with Cross-Border Deal of the Year and Divestiture Deal of the Year

CONTACT: Vince Colistra

PHILADELPHIA (February 22, 2012) —- Vince Colistra, Senior Managing Director and Shareholder of Phoenix Management Services and Phoenix Capital Resources, accepted two awards presented at the 6th annual M&A Advisor Turnaround of the Year exclusive Gala.

“Phoenix Management Services and Phoenix Capital Resources represent the best of the turnaround, restructuring and distressed investing industry in 2011 and earned this honor by standing out in a group of very impressive finalists,” said Roger Aguinaldo, CEO of the M&A Advisor.

Vince Colistra received the honorary awards for “Cross-Border Deal of the Year (Middle Market)” and “Divestiture Deal of the Year” for his integral role as Chief Restructuring Officer in the acquisition of Gas Turbine Efficiency Limited by Wood Group GTS. In a 10-month span, Vince, along with Mark Karbiner and Joseph Nappi, both Directors at Phoenix, led the successful operational stabilization, turnaround, recapitalization/restructuring, refinancing, “go private” transaction and ultimate sale of GTE’s stock to Wood Group, an international services company with $5.5 billion in sales, employing more than 36,000 people worldwide and operating in 50 countries with headquarters in Scotland.

“It was an honor to have been recognized with these prestigious awards,” said Vince Colistra, Senior Managing Director and Shareholder of Phoenix Management Services and Phoenix Capital Resources. “Our team was fantastic thanks to Mark and Joe. We would also like to acknowledge all of the folks at GTE as well as the various constituents involved in the ultimate sale of GTE to the Wood Group.”

About Phoenix

For over 25 years, Phoenix has provided smarter, operationally focused solutions for middle market companies in transition. Phoenix Management Services provides turnaround, crisis and interim management, specialized advisory and operational due diligence services for both distressed and growth oriented companies. Phoenix Capital Resources provides seamless investment banking solutions including M&A advisory, complex restructurings and capital placements. Phoenix Capital Resources is a U.S. registered broker-dealer and member of FINRA and SIPC. Proven. Results.®

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