The M&A Advisor recognized the management buyout of Thane International Inc. as the Consumer Discretionary Deal of the Year in the over $50 million to $100 million category as part of its 11th Annual Turnaround Awards.
Thane, a global leader in the multi-channel direct marketing of consumer products in the fitness, health & beauty and housewares product categories, sold substantially all of its assets in a management buyout. The sale was completed through a Canadian receivership proceeding and was approved by the U.S. Bankruptcy Court through a chapter 15 bankruptcy filing.
Aird & Berlis LLP represented the buyers with a team led by Stanley W.L. Freedman (Corporate/M&A), Steven Graff (Restructuring) and Francesco Gucciardo (Tax).