Nimble Special Opportunities (NSO) wins a prestigious award from the Turnaround Management Association of Southern Africa (TMA-SA) for its outstanding contribution to the business rescue process in the acquisition of Metal Closures Group (Pty) Ltd (MCG).
NSO, an investment company with a successful track record in addressing a wide range of special situations, was presented with the Private Equity Deal of the Year award by TMA-SA in early December 2024. The award recognises NSO’s innovative approach to special opportunities and its commitment to preserving value in distressed businesses.
NSO identified the opportunity to invest in MCG, a key player in the plastic rigids industry facing significant financial challenges that threatened its viability as well as the livelihoods of its employees. The NSO team collaborated with MCG’s stakeholders, including creditors, management, business rescue practitioners and legal experts, to construct a strategic turnaround plan for the company.
The plan not only stabilised MCG but also laid a solid foundation for sustainable growth. The turnaround, driven by NSO, enabled MCG to continue operating – with over 130 jobs preserved in the process. Additionally, the plan maximised creditor recoveries, all of which are hallmarks of a successful business rescue.
Speaking at the TMA-SA Awards ceremony, Don Millar, a senior executive at NSO, highlighted the team’s mission to drive meaningful turnarounds in struggling businesses. “This recognition is a testament to the power of collaboration and strategic intervention,” he said, “we are proud to have contributed to MCG’s transformation and to the broader economic stability of our region”.
The TMA-SA Awards celebrate excellence in corporate turnaround and business rescue, honouring those who demonstrate innovation, integrity, and positive outcomes. NSO’s Private Equity Deal of the Year award underscores its position as a leader in navigating complex restructuring processes. The MCG acquisition stands as a case study in effective business rescue, showcasing the potential for distressed companies to regain stability and, ultimately, thrive under expert stewardship.
