The Idea that Started an Industry

The History of AlixPartners

In 1981, Jay Alix thought that there must be a better way to save the assets, jobs, and value inherent in good companies caught in hard times. That led to an idea that eventually gave birth to a whole new industry: corporate turnaround and restructuring. The firm he started pioneered a series of innovative concepts and practices that have helped to push the industry onto the front pages of global media and into the everyday vernacular of managers everywhere, including:

  • The role of Chief Restructuring Officer (CRO)
  • Turnaround teams, which leverage the client’s own people and thereby inculcate the turnaround tools
  • Success fees, aligning incentives to the success of the engagement

From a base of just three offices (in Detroit, New York, and Chicago), AlixPartners built a global reputation through work with many multinational clients. Today, we are a global firm of 1,200 professionals on three continents around the world. We have been retained as restructuring advisor and/or interim management in some of the largest Chapter 11 reorganizations in history, including General Growth Properties, General Motors, and Kodak, to name only a few. We continue to build our reputation as a global player in healthy-company work, with much of our business currently involving successful companies and organizations that are looking to take the next step to value creation and sustainable growth.

Recent Awards & Distinctions

  • 2013: Turnarounds & Workouts Successful Restructurings recognized AlixPartners for Eastman Kodak Company restructuring stating, "Restructuring of Eastman Kodak was one of the most complex and challenging industrial reorganizations of the past decade."
  • 2013: Consulting magazine named Becky Roof one of 12 “Women Leaders in Consulting,” specifically honoring her with an “Excellence in Client Service” award.
  • 2013: AlixPartners Honored by Turnaround Management Association for Work at Nebraska Book Company
  • 2013: Turnaround Management Association named Al Koch to the 2013 TMA Hall of Fame
  • 2013: Bloomberg BNA Business named AlixPartners one of the “Top 5 Largest Crisis & Recovery Consulting Providers by Revenue & Market Share”
  • 2013: Turnarounds & Workouts named John Dischner to its “People to Watch” in 2013 list
  • 2013: Le Magazine des Affaires awarded Yahya Daraaoui and the French office, on behalf of AlixPartners, the Grand Prix 2013 for the firm’s skill in handling special situations in restructuring
    2012: The American Jewish Committee named Lisa Donahue as a 2012 recipient of its “National Human Relations Award”
  • 2012: Consulting magazine named Harvey Kelly, AlixPartners Financial Advisor Services Leader, one of the 'Top 25 Consultants' for 2012
  • 2011: Turnaround Management Association honored AlixPartners with both the, "2011 Transaction of the Year – Mega Company" Award and the "2011 Transaction of the Year – Mid-size Company" Award
  • 2011: Consulting magazine presented a “Top 25 Consultants 2011 – Excellence in Leadership” award to Fred Crawford
  • 2011: The Global M&A Network named AlixPartners “Global Turnaround Consulting Firm of the Year” for “top-performing” assignments including General Growth Properties, Reader’s Digest and LyondellBasell
  • 2011: The Global M&A Network presented its "Large Chapter 11 Reorganization of the Year" award to AlixPartners client General Growth Properties Inc.
  • 2011: Turnarounds & Workouts named three AlixPartners engagements—General Growth Properties, LyondellBasell and Reader’s Digest—among the top 10 most “Successful Restructurings” for 2010