Grant Thornton and Kodak Alaris have won the outstanding Project of the Year Award at the 2015 MCA (Management Consultancies Association) Awards, held last night at the Park Plaza, Westminster. The project, which worked across 33 countries, secured the future of the UK Kodak pension scheme (KPP), preserved thousands of jobs and created two profitable new businesses.
The Grant Thornton and Kodak Alaris project also won the MCA Award for Change Management in the Private Sector and the People award.
The night was also hugely successful for the Big Four accounting firms; they collected nine awards between them (five project award wins, and four individual winners) with a further twelve highly commended honours (seven project honours and five individuals). Arup won the new Award for Best Use of Thought Leadership, and specialist firms BearingPoint and Suiko were also amongst this year's winners.
Jackie Collier of EY was the winner of The Times Award for Consultant of the Year for her work with Milton Keynes Hospital, where she was highly instrumental in delivering a cost improvement programme which saved the hospital £8million.
Stephen Ross, Chairman of Trustees at KPP said: "Without Grant Thornton, we could not have completed the deal. GT worked seamlessly across service lines, combining practical deal advice with specialist knowledge."
Alan Leaman, Chief Executive of the MCA, said: "The Big Four firms were very successful this year, but a number of large technology based firms and smaller specialist firms have also done extremely well. Once again, we were impressed by the enthusiasm, expertise and commitment of the client organisations, many of them amongst the most successful employers in the country.
Anyone looking for role models in business should look at our outstanding Consultants of the Year."
Grant Thornton and Kodak — the winning project
Fourteen months into the Chapter 11 bankruptcy of Eastman Kodak Company ("Kodak"), Kodak and its largest unsecured creditor, the Kodak Pension Plan (UK) ("KPP"), found themselves at a crossroads. If unsatisfied the claim would have resulted in the largest pension insolvency in UK history and a loss of 13,500 jobs. With not enough liquidity to fund its own emergence or make a satisfactory payment to KPP, Grant Thornton realised the only option was for KPP to buy Kodak's two largest non-strategic businesses. Grant Thornton had to then separate two fully integrated businesses spread across the globe and simultaneously set up the infrastructure for KPP to own and operate these two global businesses. The transaction avoided Kodak's liquidation and kept the KPP solvent — preserving thousands of jobs and creating two profitable businesses.
The MCA Awards were judged by an independent expert panel of judges with experience of working in the private and public sectors, universities, consultancy and journalism.