Description
AlixPartners is an American consulting firm best known for its work in the turnaround space. Jay Alix founded what became AlixPartners LLP in 1981. The firm has advised on some of the largest Chapter 11 reorganizations including General Motors Co., Kmart, and Enron Corp. The firm has since moved into a more traditional consulting space, grown to a staff of over 1000. AlixPartners is headquartered in New York, and has offices in more than 20 cities around the world.They were also involved in the Bernie Madoff scandal, identifying 13,000 investors affected by the scandal for the prosecuting team.
In 2006, private equity firm Hellman & Friedman invested in AlixPartners. In 2012, CVC Capital Partners acquired AlixPartners from Hellman & Friedman. In 2016, AlixPartners was valued at $2.5 billion.
History
AlixPartners was founded in 1981 as Jay Alix & Associates PC in Southfield, Michigan by Jay Alix, a Detroit-area Certified Public Accountant (CPA). According to BusinessWeek, the “firm pioneered consulting to companies in or near bankruptcy.” It first found public recognition in 1984, when working with the bankrupt automotive company DeLorean Motor Co, finding an additional $100 million for the company's creditors.
