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 more than 1,400 professionals on four 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

  • 2015: Turnarounds & Workouts named AlixPartners to its list of Outstanding Turnaround Firms
  • 2015: Jim Mesterharm, Turnaround and Restructuring Services Managing Director, admitted as a Fellow of the American College of Bankruptcy – North America
  • 2015: AlixPartners was named Management Consulting Firm of the Year – Asia Pacific by Acquisition International
  • 2015: M&A Advisor named AlixPartners’engagement Momentive Performance Materials “Industrial Manufacturing and Distribution Deal of the Year”
  • 2015: M&A Advisor named AlixPartners’ Chapter 11 Restructuring of Nautilus “Industrial Manufacturing and Distribution Deal of the Year (Over $500MM)”
  • 2015: M&A Advisor named AlixPartners’ Chapter 11 Reorganization of Chassix Holdings, Inc. “Chapter 11 Reorganization of the Year (Over $500 MM)”
  • 2015: AlixPartners Zurich office ranked as one of the top five consultancies in the Swiss market by BILANZ Magazine.
  • 2015: For the third year in a row, French business magazine Le Magazine des Affaires awarded its Grand Prix Restructuring Award to AlixPartners France
  • 2015: Global M&A Network Turnaround Atlas Awards:
  • Global Consultant of the Year - Randall Eisenberg, Managing Director
  • Turnaround of the Year (Large Markets) - Momentive Performance Materials
  • Chapter 11 Restructuring of the Year (Large Middle Markets) - Select Staffing
  • Prepackaged Restructuring of the Year (Large Markets) - USEC, Inc. (Centrus Energy).
  • 2015: M&A Advisor named Tom Studebaker and Esben Christensen recipients of the “40 Under 40 Emerging Leaders” award in the service professionals category.
  • 2015: Esben Christensen named as one of Turnaround & Workouts “People to Watch in 2015”
  • 2015: Lisa Donahue received the “2015 Her Justice Award” in recognition of her lifetime commitment to the ideal of access to justice for all individuals
  • 2015: M&A Advisor presented Randall Eisenberg with its 2015 Leadership Award
  • 2015: M&A Advisor named AlixPartners winner of the “Restructuring of the Year” and “Community Impact Award” for the firm’s work on Momentive Performance Materials, Inc.
  • 2014: The Global M&A Network named AlixPartners winner of the “Technology Media, Telecom Deal of the Year” award for the firm’s work at Eastman Kodak Company
  • 2014: The Global M&A Network named AlixPartners winner of the “Restructuring Deal of the Year” award for the firm’s work at Select Staffing
  • 2014: The Institute for Turnaround named AlixPartners winner of the Financial Restructuring Award for the firm’s work with the Co-operative Group
  • 2014: The Asia Transformation and Turnaround Association (ATTA) named AlixPartners winner of the “Large Turnaround of 2014” award for the firm’s work at Zhuhai Zhongfu
  • Named Firms -2014”
  • 2014: The International Women’s Insolvency and Restructuring Confederation (IWIRC) presented Holly Felder Etlin with the “Woman of the Year in Restructuring.” 
  • 2014: The Turnaround Management Association’s Midwest Chapter named AlixPartners winner of the “Large Turnaround of the Year” for the firm’s work at Career Education Corporation
  • 2014: The Turnaround Management Association named AlixPartners winner of the “Turnaround of the Year Award: Mega Company” for the firm’s work at Eastman Kodak Company
  • 2014: DBusiness Magazine named Barbara Gucfa to their 2014 ‘Powered by Women’ list
  • 2014: brand eins ranked AlixPartners No. 1 in interim management, No. 2 in restructuring and No. 3 in the chemicals and pharma sector
  • 2014: Le Magazine des Affaires awarded its “Grand Prix 2013” award to AlixPartners in France for the firm’s skill in handling special situations in restructuring
  • 2014: The Deal Pipeline ranked AlixPartners one of its ten top Crisis Management Firms by volume for The Deal’s Q1 bankruptcy league tables
  • 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: Asia Transformation and Turnaround Association named AlixPartners winner of the “Large Turnaround of 2013” award for the firm’s work with Royal Brunei Airlines
  • 2013: Acquisition International named AlixPartners a winner of their 2013 Finance Awards
  • 2013: The Turnaround Management Association inducted Al Koch into its 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” list for 2013.
  • 2013: Le Magazine des Affaires awarded its “Grand Prix 2013” award to AlixPartners in France 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: Turnarounds & Workouts named AlixPartners one of its 12 “Outstanding Turnaround Firms” for 2012.
  • 2012: Turnarounds & Workouts named AlixPartners one of its nine “Nation’s Largest Claims Administrators” for 2012.
  • 2012: Consulting magazine named Harvey Kelly one of its “Top 25 Consultants for 2012,” specifically honoring him with an “Excellence in Client Service” award.
  • 2012:  Decideurs: Strategie Finance Droit, (France) gave AlixPartners a #1 rating among strategy, organization and management consultancy firms for productivity, estimating that AlixPartners achieved a revenue/productivity ratio of 800,000 euros (using 2010 revenue estimates).
  • 2012: Micheal Baur, Eugenio Berenga, Don Featherstone, Jan Kantowsky, David Lovett, Luca Ramella, Axel Schulte, and Stephen Taylor were cited as Senior Professionals in Turnarounds & Workouts “U.S. Turnaround and Restructuring Firms With European Offices”