AlixPartners, LLP, the global business advisory firm, and CVC Capital Partners ("CVC") announced the completion of a recapitalization by which funds affiliated with CVC have purchased majority ownership of AlixPartners 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 April 25, 2012, were not disclosed.

AlixPartners specializes in improving corporate financial and operational performance, executing corporate turnarounds, providing litigation consulting, forensic accounting, and specialized IT services. The firm now operates from 17 offices globally, providing a high level of value-added services to clients across a broad spectrum of sectors and practice areas.

Fred Crawford, CEO of AlixPartners, said, "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, said, "AlixPartners is a world class consulting firm. We are excited to work with Fred and the AlixPartners team as they continue to realize 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 & Co. and Bank of America Merrill Lynch served as financial advisors to AlixPartners and Hellman & Friedman. Simpson Thacher & Bartlett LLP served as legal counsel to AlixPartners and Hellman & Friedman. Willkie Farr & Gallagher LLP served as legal counsel to Jay Alix. Morgan Stanley served as financial advisor to CVC. Gibson Dunn & Crutcher served as legal counsel to CVC.