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