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CVC Capital Partners completes recapitalisation of AlixPartners

Funds affiliated with CVC Capital Partners have purchased majority ownership of AlixPartners, a business advisory firm, from Hellman & Friedman and Jay Alix.

AlixPartners’ 125 managing directors have maintained a considerable stake in the firm, and Jay Alix, who founded the firm in 1981, has maintained a substantial minority stake.

Terms of the transaction, which was previously announced on 25 April 2012, were not disclosed.

AlixPartners specialises in improving corporate financial and operational performance, executing corporate turnarounds, providing litigation consulting, forensic accounting, and specialised IT services. The firm now operates from 17 offices globally.

Fred Crawford (pictured), chief executive of AlixPartners, says: “This transaction marks the next phase in the development of our firm. We look forward to partnering with CVC to further build our business and expand our global footprint.”

David Tayeh, managing director at CVC, says: “AlixPartners is a world class consulting firm. We are excited to work with Fred and the AlixPartners team as they continue to realise the firm’s worldwide growth potential and further expand its service offerings.”

Deutsche Bank, Bank of America Merrill Lynch, Goldman Sachs, Jefferies, and UBS provided financing for the transaction. Goldman Sachs and Bank of America Merrill Lynch served as financial advisers to AlixPartners and Hellman & Friedman.

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