August 7, 2006
AlixPartners LLC announces recapitalization agreement whereby affiliates of private equity firm Hellman & Friedman LLC will make a significant investment in AlixPartners.
On August 4, Willkie client AlixPartners LLC, the international corporate turnaround, performance improvement and financial advisory firm, announced it has agreed to a recapitalization of the firm whereby affiliates of private equity firm Hellman & Friedman LLC will make a significant investment in AlixPartners. The transaction also provides for AlixPartners' 78 managing directors along with the remainder of its more than 500 employees to gain a considerable equity stake in the firm as well. Together, they will hold a majority interest in the private firm. A multidisciplinary Willkie team represented AlixPartners and the company’s founder Jay Alix, who controlled all of the company’s voting stock. The deal, which was reported in the August 4 edition of The Wall Street Journal, values the firm in excess of $800 million. AlixPartners has experienced 25 years of uninterrupted revenue growth, and over the last decade has grown from two offices in the U.S. to 12 offices in North America, Europe and Asia, with affiliations in South America and Australia. The deal was handled by partners Thomas Cerabino, Frank Daniele and Richard Reinhold; special counsel Kim Walker; and associates Hillel Jacobson, Andrew Markus, David Rubinsky, Kelly Sutherland and Adam Turteltaub.
