SOURCE: MorrisAnderson

December 15, 2008 15:16 ET

David M. Bagley Promoted to Managing Director

CHICAGO, IL--(Marketwire - December 15, 2008) - MorrisAnderson is pleased to announce that David M. Bagley in MorrisAnderson's Chicago office has been promoted to Managing Director effective January 1, 2009.

Bagley joined MorrisAnderson in 2002 and during his tenure he has assisted numerous companies in transition, achieving successful outcomes for financially distressed and underperforming companies as a consultant, interim manager and financial advisor.

Dan Dooley, Principal and COO of MorrisAnderson, states, "Dave has been a great asset to MorrisAnderson. With his experience and financial expertise, he has managed and contributed on projects in a wide variety of industries, including manufacturing, hospitality, transportation, distribution, retail, catalog mail-order, finance, computer technology and software." Adds Dooley, "Dave's recent success with Roman, a giftware distributor was so significant that Dave and MorrisAnderson were awarded a '2008 Turnaround of the Year' award by the Chicago Chapter of the Turnaround Management Association, as well as 'Mid-Sized Turnaround of the Year' - Honorable Mention - by the International Turnaround Management Association. We are extremely proud of all that Dave has achieved and look forward to his long term participation as a senior member of our Leadership Team."

Bagley has completed a variety of successful projects for companies ranging in size from $25 million to more than $500 million, including: working as CEO of a $50 million national fundraising company where a restructuring saved the company over $4 million annually; working as CFO of a $100 million national restaurant chain where Bagley negotiated over $5 million in short-term financing to facilitate the build-out of 25 locations over 18 months and the growth strategy saw revenues increase 87 percent year-over-year; and working as Chief Restructuring Officer for a $100 million environmental remediation construction firm where he helped the company manage cash and liquidity, as well as lender communications, and negotiated two forbearance agreements.

Before joining MorrisAnderson, Bagley ran the $30 million international division for a large national hardware distributor, started a Midwest regional logistics program for an international freight forwarder and brokerage firm, and consulted Fortune 500 firms on technology-based new business plans.

Bagley is a Certified Turnaround Professional (CTP). He earned a master's degree in business administration from the J. L. Kellogg Graduate School of Management at Northwestern University and a bachelor's degree from DePauw University in Greencastle, Indiana.

More about MorrisAnderson:

Now celebrating its 28th anniversary, Chicago-based MorrisAnderson has offices in New York, Atlanta, Milwaukee, Los Angeles, Cleveland and St. Louis. The firm's service offerings include performance improvement, financial advisory, investment banking, interim management, lender services, turnarounds, workouts, litigation support, valuation, information technology services, and insolvency services and wind-downs. MorrisAnderson emphasizes hands-on involvement for companies with $20 million to $200 million in annual sales.

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