RT Journal Article SR Electronic T1 Turnaround Delivers on Promise of Acquisition Strategy JF The Journal of Private Equity FD Institutional Investor Journals SP 59 OP 64 DO 10.3905/jpe.2005.490420 VO 8 IS 2 A1 Scott Brown YR 2005 UL https://pm-research.com/content/8/2/59.abstract AB Bolstered by five significant acquisitions, Measurement Specialties, Inc., (MSI) a publicly traded (AMEX: MSS) manufacturer of consumer scales and industrial sensors, enjoyed heady growth from 1998 through 2001. However, flaws in the rapid growth strategy began to appear in 2002 when cost synergies failed to materialize and demand slackened. The MSI board engaged Corporate Revitalization Partners, LLC (CRP) to lead management in restructuring and operational improvements with Frank Guidone as interim CEO and a small team from CRP. Eight months later, productivity had increased 50%, and MSI reported its first positive quarterly earnings in more than two years. Debt had been reduced from nearly $35 million to less than $5 million and MSI outperformed the banks' best-case scenarios. How CRP achieved these results earned Guidone the 2004 Mid-Size Company Turnaround of the Year Award from the Turnaround Management Association.