AlixPartners announces new ownership structure
NEW YORK, November 7, 2016
AlixPartners, the global advisory firm, today announced a group led by the firm’s founder, Jay Alix, and three leading global investors, has agreed to acquire ownership stakes in the business from CVC Capital Partners (“CVC”). The transaction values AlixPartners at more than US$2.5 billion.
The new ownership structure will include Caisse de dépôt et placement du Québec (“CDPQ”), Public Sector Pension Investment Board (“PSP Investments”) and Investcorp Group (“Investcorp”), together with founder and current shareholder Jay Alix. AlixPartners’ Managing Directors will continue to hold a significant stake in the firm and have access to a new equity system.
Founded in 1981, AlixPartners works with clients to help them restore, grow and create sustainable value, in high-impact situations. Its services comprise performance improvement; turnaround and restructuring; investigations, disputes and risk; digital transformation; and transformative leadership.
CVC acquired a majority stake in AlixPartners in 2012. The firm has since grown from 950 to more than 1,600 professionals and expanded from 17 to 25 offices on four continents.
Simon Freakley, Chief Executive Officer of AlixPartners, said: “We are delighted to welcome CDPQ, PSP Investments and Investcorp as long-term shareholders. Their commitment will allow us to continue to grow our business and best serve our clients. We are now in our 35th year and, with revenues of $1 billion, AlixPartners is on a great trajectory.”
Mr Freakley added: “Our unique approach, assigning experienced teams, acting quickly and delivering practical solutions for very complex problems, has been key to our success and allows us to work with some of the world’s largest companies. We are very grateful to CVC, who shared our vision and played an integral role in the firm’s growth over the last four and a half years.”
Roland Lescure, Chief Investment Officer and Head of Private Equity at CDPQ, said: “Over the past 35 years, AlixPartners has developed expertise that is now sought after worldwide and helps companies stay on the leading edge in highly competitive markets. The resilient nature of its activities and its strongly diversified business model make it an attractive investment for CDPQ. By working with partners that share our long-term vision, we aim to support AlixPartners’ growth for many years to come and help further expand the firm’s footprint and capabilities.”
Guthrie Stewart, Senior Vice President and Global Head of Private Investments at PSP Investments, said: “We were highly attracted to the opportunity to participate in the continued growth of AlixPartners. The firm has a leading market position, tremendous opportunity for further expansion, and, importantly to us, an outstanding entrepreneurial culture that will drive its continued success. We look forward to supporting the next phase of AlixPartners’ global growth alongside strong partners with aligned long-term interests.”