AlixPartners
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|
| Partnership | |
| Industry | Management consulting |
| Founded | 1981 |
| Founder | Jay Alix |
| Headquarters | New York City, New York, U.S. |
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Area served
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Global |
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Key people
|
Simon Freakley (CEO) |
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Number of employees
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1600+ |
| Website | AlixPartners.com |
AlixPartners is a consulting firm best known for its work in the turnaround space. The firm was founded by Jay Alix in 1981 in order to handle the turnaround of Electrical Specialties Co., and has since moved into a more traditional consulting space, grown to a staff of over 1,600, and added office locations throughout North America, South America, Europe, The Middle East and Asia. In 2012 AlixPartners was valued at $1 billion.
AlixPartners was founded in 1981 in Southfield, Michigan by Jay Alix, a Detroit-area Certified Public Accountant (CPA). The company was founded as Jay Alix & Associates PC. According to BusinessWeek, the “firm pioneered consulting to companies in or near bankruptcy … While most management consultants focus on long-term strategy, AlixPartners' mission is more immediate. It jumps into crisis-ridden companies and looks for ways to maximize value for investors and creditors. Often, that means shedding assets or restructuring operations. But sometimes, it means preparing the company for sale.” It first found public notoriety in 1984, when working with the bankrupt automotive company DeLorean Motor Co, finding an additional $100 million for the company’s creditors.
The company has built a mergers and acquisitions practice, in addition to other forms of business consulting. Specifically, they work within large merger integration situations. In March 2014 AlixPartners was brought on board to advise on the merger between JoS. A. Bank Clothiers and Men's Warehouse, two male clothing retailers. AlixPartners has consulted for companies including Airbus, Crocs, and William Morris Endeavor. Once hired by William Morris, AlixPartners was responsible for finding $120 million in cost cutting measures for IMG before the two agencies merged.
Industries in which AlixPartners consults includes, but is not exclusive to, maritime and port-based industries, private equity, automotive industry, natural resources, and aerospace. In September 2014, AlixPartners began the restructuring of the Puerto Rico Electric Power Authority (PREPA). The deal allowed PREPA to access a $280 million construction fund for infrastructure improvements for the country.
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Wikipedia