Phoenix Management Services announced that the sale of Phoenix Payment Systems to North American Bancard was named the M&A Distressed Deal of the Year. The M&A Advisor announced the winners of the 9th Annual M&A Advisor Turnaround Awards on Friday, December 26th 2014.

"Since 2002, we have been honoring the leading turnaround transactions, companies and dealmakers. Phoenix Management Services was chosen from over 250 participating companies to receive the award. It gives us great pleasure to recognize Phoenix Management Services and bestow upon them our highest honor for distressed investing and reorganization firms and professionals," said David Fergusson, Co-CEO and President, The M&A Advisor. "Phoenix Management Services represents the best of the distressed investing and reorganization industry in 2014 and earned these honors by standing out in a group of very impressive candidates."

The M&A Advisor presented the 2015 awards at a black tie Awards Gala at The Colony Hotel in Palm Beach, FL, in conjunction with the 2015 M&A Advisor Distressed Investing Summit that featured 200 on the industry's leading professionals participating in exclusive interactive forums led by a faculty of restructuring industry stalwarts and Bloomberg media experts.

"The sale of Phoenix Payment Systems to NAB was a true team effort and a rare win-win for all constituents," said Michael Jacoby, Shareholder and Senior Managing Director of Phoenix Management Services and the Chief Restructuring Officer of Phoenix Payment Systems. "Our expectation is that unsecured creditors will be paid in full and that there will be a meaningful distribution to shareholders, an outcome that we are very proud of, indeed."

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.