AlixPartners LLP has agreed to acquire Zolfo Cooper Europe. No financial terms were disclosed for the transaction that is expected to close before the end of February. Zolfo Cooper Europe is a provider of advisory and restructuring services.
February 16, 2015
AlixPartners LLP, the global business-advisory firm, confirmed today that it has entered into an agreement to acquire the business and assets of Zolfo Cooper Europe. This exciting acquisition will significantly expand AlixPartners’ UK and continental European practice, where it is already known as a leader in turnaround and restructuring, enterprise improvement, financial advisory services, information management services, and leadership and organizational effectiveness. Zolfo Cooper Europe provides a broad range of specialist business advisory solutions spanning the entire corporate lifecycle including restructuring services, pensions advisory, forensic and litigation support, debt advisory and corporate finance to both companies and their stakeholders.
Fred Crawford, CEO of AlixPartners said: “Combining with Zolfo Cooper Europe will enable AlixPartners to better serve our UK, European, and global clients from an expanded position of strength and further reinforces our position as the pre-eminent global turnaround and restructuring group. The team at Zolfo Cooper Europe is well known and highly regarded and, along with AlixPartners’ strong capabilities in global restructuring, operations improvement, information management and litigation support, puts us in a great position to extend our market leadership.”
Stefano Aversa, Business Unit Leader of EMEA for AlixPartners added: “The environment for many global corporates continues to be challenging, particularly in Europe. This transaction creates the largest turnaround and restructuring group in Europe, bringing together two teams of senior professionals recognized for deep expertise in restoring performance and creating value. Throughout this process we have seen first-hand how impressive the people, capabilities and reputation of Zolfo Cooper Europe are, and we look forward to serving our clients as one strong and unified team.”
Zolfo Cooper Europe brings to AlixPartners its full operation of approximately 200 senior professionals, including 19 Managing Directors, drawn from its distinct but complementary Advisory Services and Restructuring Services practices. Operating from offices in London, Birmingham, Leeds, Manchester, and Glasgow the arrival of the Zolfo Cooper team significantly enhances AlixPartners’ UK and European footprint creating a regional practice of close to 600 highly skilled professionals. The integration of the two businesses has been planned in detail as part of the acquisition process. Zolfo Cooper Europe will be rebranded AlixPartners across all its offices and both practice areas following the completion of the acquisition which is expected to occur by the end of February 2015.
“Bringing together Zolfo Cooper Europe and AlixPartners is great news for our clients and our people. It is entirely aligned with our strategy over recent years to expand both our service offerings and geographic reach in pursuit of helping our clients solve critical problems. We’re extremely excited about the opportunity to bring these complementary skills, cultures, and reputations for outstanding client service together under the AlixPartners brand,” said Simon Freakley, CEO of Zolfo Cooper Europe.
Lisa Donahue, Global Leader of AlixPartners’ Turnaround and Restructuring practice commented: “This acquisition brings together two of the most well-known turnaround and interim management advisory firms in the UK and internationally. AlixPartners has acted on many significant and well-recognised international restructurings including Kodak, General Motors and LyondellBasell, whilst Zolfo Cooper Europe has helped to secure deals ensuring the future of leading UK and European businesses including Hibu, Clinton’s, Strada and Stemcor.”
AlixPartners is a leading global business advisory firm of results-oriented professionals who specialize in creating value and restoring performance at every stage of the business lifecycle. AlixPartners people thrive on the ability to make a difference in high-impact situations and deliver sustainable, bottom-line results. The firm’s expertise covers a wide range of businesses and industries whether they are healthy, challenged, or distressed. Since 1981, the business has taken a unique, small-team, action-oriented approach to helping corporate boards and management, law firms, investment banks and investors respond to critical business issues. AlixPartners’ European offices are located in Dusseldorf, London, Milan, Munich, Paris, and Zurich. For more information, visit www.alixpartners.com.
About Zolfo Cooper Europe
Zolfo Cooper Europe is a leading independent provider of advisory and restructuring services. Partner-led teams assist clients facing financial, commercial and strategic challenges at all stages of the business lifecycle. Via two distinct but complementary service lines of Restructuring Services and Advisory Services, Zolfo Cooper Europe works with a broad range of stakeholders delivering expertise which extends from the mid-market through to the very largest and most complex international assignments.
The name Zolfo Cooper and the ZC brand device are the properties of Zolfo Cooper US provided under license to the Zolfo Cooper global network. Zolfo Cooper Europe licenses the Zolfo Cooper brand name from Zolfo Cooper US, based in New York. Zolfo Cooper US, Zolfo Cooper Caribbean and Zolfo Cooper Hong Kong, are not part of this transaction and remain in Zolfo Cooper’s global network.