Siena Lending Group is proud to be an honoree in the 15th Annual Turnaround Awards, which recognize achievements in the distressed investing and reorganization industry. The awards, sponsored by The M&A Advisor, were presented at a gala dinner in late September.

Siena received the "Refinancing of the Year" award in the under-$100 million category for closing a $21.5 million credit facility that supported the refinancing of Arandell Corporation and its acquisition by Saothair Capital Partners. The Arandell acquisition was Saothair's first as a private equity firm focusing on the lower middle market—a transaction that helped preserve over 500 jobs during a global pandemic.

"It is truly an honor to be recognized by the M&A Advisor for our team's hard work and dedication during an historically challenging time," said David Grende, President and CEO of Siena. "Siena has been proud to help our clients—including many with private equity sponsors—successfully execute on their business plans over the past 18 months, despite the significant hurdles facing most industries.

Siena congratulates Harney Partners on sharing in the award as financial advisor to Arandell.