MUNICH (Feb. 25, 2010) – AlixPartners, the global business-advisory firm, announced today that Managing Director James J. Bonsall (57) has rejoined the firm’s team in Germany, to lead AlixPartners’ German Turnaround & Restructuring Practice. The experienced restructuring expert returns to Germany five years after the successful restructuring of the North Rhine-Westphalia-based cable company Ish GmbH. Bonsall led the financially stricken cable network operator out of crisis and successfully sold it in his role as interim CEO.
"Jim Bonsall is one of AlixPartners’ most successful and internationally experienced turnaround specialists,” said Fred Crawford, the firm’s global chief executive officer. “His outstanding work at Ish, among other engagements, laid the foundation for the establishment of AlixPartners’ presence in Germany today, a presence that includes two offices and engagements in many different industries.
“At the end of January,” continued Crawford, “AlixPartners released a study showing that nearly a €400 billion corporate-refinancing crisis could be fast approaching companies in the European G4, including about €115 billion for Germany alone. That’s the amount of the debt of about 115 major companies in Germany that matures by year end. This ‘wall of debt,’ as it’s been called, will challenge companies of all sorts, and helping companies deal with these types of issues is one of Jim Bonsall’s many specialties.”
Said Stefano Aversa, co-president of AlixPartners and head of the firm’s EMEA operations: “Jim will work hand in hand with country head Michael Baur and the rest of our team, giving AlixPartners a formidable lineup of very experienced professionals in Germany, both on the consulting side and the restructuring side. AlixPartners’ offering to clients, including clients in Germany, is unique: We’re the firm to call in important and urgent situations, when—as our tagline says—‘it really matters.’ And that applies to virtually any company, in virtually any state of health.”
Said Michael Baur, AlixPartners’ country head for Germany: “Jim Bonsall’s addition to the team here in Germany means that AlixPartners has even more breadth and depth of expertise to serve our clients here. He is one of the most experienced and successful restructuring professionals in the entire world.”
Bonsall has over 30 years of experience working in companies in Europe, the US and South America. During his 13 years at AlixPartners, he has been successful in achieving many important turnarounds. He has worked for clients from various sectors, including high tech, manufacturing and airlines. In doing so, he took on interim positions as CEO, COO, CFO or CRO (chief restructuring officer) at many of those companies. Before joining AlixPartners, Bonsall was at Ernst & Young LLP for 13 years and was named a partner of that firm.