Chicago-Based Development Specialists, Inc. Wins Prestigious M&A Turnaround Awards

Firm Recognized for Outstanding Work in Three Major Categories

CHICAGO--(BUSINESS WIRE)--Development Specialists, Inc. (DSI), a leading provider of management consulting and financial advisory services, was recently awarded three M&A Advisor Turnaround Awards at the 6^th Annual Turnaround Gala in Palm Beach, Fla. M&A recognizes the achievements of the world’s leading mergers and acquisitions, financing and turnaround professionals.

“These awards represent the breadth and depth of work we provide our clients”

DSI’s outstanding service was awarded in the “Reorganization of the Year (Middle Market);” "Consumer and Retail Products (Over $50 Million) Sale of the Year;” and “Real Estate Deal of the Year (Under $500 Million)" categories.

DSI won the Reorganization of the Year for its work on the acquisition of HearUSA by Siemens Hearing Instruments. West Palm Beach. Fla-headquartered HearUSA was a leader in hearing care for the nation’s managed care organizations selling a full line of hearing aid and related products. The company filed for Chapter 11 bankruptcy in May 2011 and was subsequently sold at auction in September 2011 to Siemens. Joseph Luzinksi, head of DSI’s Miami office, served as the CRO during the acquisition and played a key role in its sale.

Additionally, DSI received accolades for its outstanding work in the sale and real estate deal of Frankfort, Il-based Gas City, Limited. to multiple strategic buyers. Gas City Limited is the owner and operator of gasoline stations, truck stops, and convenience stores. The company filed for bankruptcy in October 2011 and was sold at auction in April 2011. Fred Caruso, vice president and COO of DSI, served as the main contact on this case.

“These awards represent the breadth and depth of work we provide our clients,” says Bill Brandt, DSI president and CEO. “We are honored that M&A Advisor has recognized us for our commitment to maximizing value for all stakeholders involved in this continuously challenging business environment.”

For more information about DSI’s work on either of these cases, contact Steve Victor at 312-263-4141 or [e-mail].

About DSI

For more than 30 years, DSI has been a leading provider of management consulting and financial advisory services, including turnaround consulting, fiduciary roles, financial restructure, litigation support, wind-down oversight and forensic accounting services. The company is headquartered in Chicago and has offices in New York, Los Angeles, San Francisco, Miami, Philadelphia and Columbus, Ohio. Internationally, DSI has an office in London. For more information about DSI, visit http://dsi.biz/.

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