Maryland Chamber of Commerce Names Strategic Management Partners, Inc. as Small Business of the Year
Annapolis, MD 21403
July 31 2007
Maryland Chamber of Commerce Names Strategic Management Partners, Inc. as Small Business of the Year
The Maryland Chamber of Commerce awarded its annual Small Business of the Year Awards during its Growing Business, Celebrating Success event at the Hilton Baltimore BWI Airport Hotel. The awards program is designed to recognize the dedication, innovation and entrepreneurial spirit displayed by small businesses in Maryland. Award recipients received the Small Business of the Year Award from the Maryland Chamber of Commerce and the Governor’s Citation as a special tribute to honor their selection from Governor Martin O’Malley, The State of Maryland.
“Small business is the cornerstone of our economy, not just in Maryland but throughout the country,” said Maryland Chamber Chairman Betty Buck, President of Buck Distributing Co., Inc. “It is you the entrepreneurs who design our newest technologies, improve how we work and how we live, employ the most people, and who form the very fabric of our communities. Small business is our future and today is your day to shine.”
This year’s winner is:
Strategic Management Partners, Inc.
Strategic Management Partners, Inc. is a nationally recognized turnaround management firm specializing in interim executive leadership, turnaround and crisis management, asset recovery, and investing in underperforming companies. Based in Annapolis, Maryland, the company remains small and focused by design, and measures its success in terms of client company growth, assets recovered, and jobs saved and created. Strategic Management Partners has many client turnaround success stories. From a $59 million federal systems integrator to a $4.8 million commercial printer, Strategic Management Partners’ Executives have saved companies, and jobs, in Maryland and throughout the country. Strategic Management Partners’ nomination was supported by the Maryland Chamber of Commerce, the Annapolis/Anne Arundel County Chamber of Commerce, and the Anne Arundel Economic Development Corporation.
Strategic Management Partners, Inc. helps its clients recover assets, restore value to troubled portfolio companies, prepare entities for 'cash out' at maximum value, support litigation, and invest private equity into underperforming opportunities. The firm has been advisor to Presidents Bush, Clinton, and Yeltsin, World Bank, EBRD, Company Boards, and Equity Capital Investors on leadership, governance, turnaround management and equity investing. Turnarounds & Workouts Magazine has twice named SMP among 'Top 12 Outstanding Turnaround Management Firms'. The firm has been featured in the Wall Street Journal, Washington Post, Baltimore Sun, and many others.
“We are extremely honored and proud to receive this prestigious award,” said John M. Collard, Chief Executive Officer of Strategic Management Partners, Inc. “We have three goals when we enter an engagement: 1) Gain control of a dire situation, stabilize work environment and jump-start the company; 2) Establish a viable plan, rebuild an enduring management team to implement that plan; and 3) Hire our replacement. We believe true company value comes from a stable competent cohesive team of people resources committed to company growth, profitability and prosperity. We do not build-up the number of consultants on engagements because when they leave all of the value leaves with them. Instead, we utilize the client’s employees and take them to the next level. We build value into the company for the employees, investors and all stakeholders.”
“I would like to congratulate Strategic Management Partners, Inc. and applaud not only the finalists, but all the nominees for the 2007 Small Business of the Year Awards,” said Kathleen T. Snyder, CCE, President & CEO of the Maryland Chamber. “By providing jobs, getting involved with chambers of commerce and improving the quality of life in our communities, these small businesses have indeed become the foundation of Maryland’s economy.”
In all, there were 35 companies nominated. Nominees for the awards program must be a member of the state or a local chamber of commerce, have a permanent business location with employee(s) in Maryland, and have been in operation for a minimum of two years. The judging panel for the awards program was comprised of representatives of Maryland's business media, including Washington Smart CEO magazine, the Baltimore Examiner and Corridor Inc. Criteria upon which the nominees were judged include performance, growth, innovation, creativity, competitiveness, community involvement and more.
This was the awards program’s sixth year. Previous winners include Advance Business Systems, HarVest Bank of Maryland, Millennium Marketing Solutions, Colosseum Gym & Personal Training, Correct RX Pharmacy Services, British & American Auto Care, and many others.
About the Maryland Chamber The Maryland Chamber of Commerce is a non-profit coalition of 850 businesses who employ more than 440,000 people in the state. Its mission is to maximize opportunities for its members to grow and prosper. For more information about the Chamber, visit its website, www.mdchamber.org or call (410) 269-0642.
