CVC Capital Partners has acquired majority ownership of global business advisory firm AlixPartners from Hellman & Friedman and Jay Alix. AlixPartners’ 125 managing directors have maintained a considerable stake in the firm, and Jay Alix, who founded the firm in 1981, has maintained a substantial minority stake. Terms of the transaction were not disclosed.
AlixPartners, LLP, the global business advisory firm, and CVC Capital Partners (“CVC”) announced the completion of a recapitalization by which funds affiliated with CVC have purchased majority ownership of AlixPartners from Hellman & Friedman and Jay Alix. AlixPartners’ 125 Managing Directors have maintained a considerable stake in the firm, and Jay Alix, who founded the firm in 1981, has maintained a substantial minority stake. Terms of the transaction, which was previously announced on April 25, 2012, were not disclosed.
“AlixPartners is a world class consulting firm. We are excited to work with Fred and the AlixPartners team as they continue to realize the firm’s worldwide growth potential and further expand its service offerings.”
AlixPartners specializes in improving corporate financial and operational performance, executing corporate turnarounds, providing litigation consulting, forensic accounting, and specialized IT services. The firm now operates from 17 offices globally, providing a high level of value-added services to clients across a broad spectrum of sectors and practice areas.
Fred Crawford, CEO of AlixPartners, said, “This transaction marks the next phase in the development of our firm. We look forward to partnering with CVC to further build our business and expand our global footprint.”
David Tayeh, Managing Director at CVC, said, “AlixPartners is a world class consulting firm. We are excited to work with Fred and the AlixPartners team as they continue to realize the firm’s worldwide growth potential and further expand its service offerings.”
Deutsche Bank, Bank of America Merrill Lynch, Goldman Sachs, Jefferies, and UBS provided financing for the transaction. Goldman Sachs & Co. and Bank of America Merrill Lynch served as financial advisors to AlixPartners and Hellman & Friedman. Simpson Thacher & Bartlett LLP served as legal counsel to AlixPartners and Hellman & Friedman. Willkie Farr & Gallagher LLP served as legal counsel to Jay Alix. Morgan Stanley served as financial advisor to CVC. Gibson Dunn & Crutcher served as legal counsel to CVC.
AlixPartners, LLP is a global business advisory firm offering comprehensive services in four major areas: enterprise improvement, turnaround and restructuring services, financial advisory services and information management services. Founded in 1981, the firm has more than 950 professionals in offices around the world, and can be found on the Web at www.alixpartners.com.
About CVC Capital Partners
CVC Capital Partners (“CVC”) is one of the world’s leading Private Equity and investment advisory firms. Founded in 1981, CVC today has a network of 20 offices and some 250 employees throughout Europe, Asia and the US.
Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. Raised from pension funds, financial institutions and various other partners, CVC Funds seek to identify attractive investments and develop sustainable, long-term value in close partnership with management teams. To date, CVC has raised over US$44 billion from a diverse and loyal investor base, completing over 290 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of US$167 billion.
The CVC team’s local knowledge and extensive contacts underpin a 31-year proven track record of investment success. Thanks to its extensive international presence, CVC excels at pulling together cross-border resources to assess investment opportunities quickly and consistently, allowing sound and timely decisions to be made on questions of value. This is key both in deal completion and in generating strong returns for investors. CVC Funds currently own over 60 companies worldwide, which generate over US$127 billion in revenues and employ around 400,000 people.
About Hellman & Friedman
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, Hellman & Friedman has raised and, through its affiliated funds, managed over $25 billion of committed capital. The Firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including internet & digital media, software, business & marketing services, financial services, insurance, media, healthcare and energy & industrials.
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