(Bloomberg) — The private equity owners of AlixPartners are exploring a potential sale of the US consulting firm, people with knowledge of the matter said.
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Caisse de dépôt et placement du Québec, Public Sector Pension Investment Board and Investcorp are working with advisers to gauge buyer interest in AlixPartners, according to the people. A deal could value the New York-based company at more than $5 billion, they said.
CDPQ, PSP Investments, Investcorp and Jay Alix, the founder of AlixPartners, agreed to acquire a majority stake in the business from CVC Capital Partners Plc in 2016. Alix isn’t planning to sell his stake in AlixPartners in any deal, the people said.
Deliberations are ongoing and there’s no certainty that they’ll result in a transaction, the people said.
AlixPartners said in an emailed statement that it regularly reviews its capital structure and invites outside investors to participate in its growth and commercial success. The firm’s three external investors made a minimum 10-year commitment when they came on board, it said.
“The firm is now in very early-stage discussions as to how the next cohort of minority stake outside investors might be composed and any further speculation is premature,” according to the statement.
A spokesperson for CDPQ declined to comment. Representatives for PSP Investments and Investcorp didn’t immediately respond to requests for comment outside regular business hours.
AlixPartners is known for helping private equity firms to boost the revenues of their portfolio companies.
The firm offers consulting services to companies in industries including aerospace and defense, financial services, retail, and technology, media and telecommunications. It advises them on issues such as corporate strategy, data governance and mergers and acquisitions. Companies that AlixPartners has advised include Alacrity Solutions, Big Lots Inc. and retailer rue21 Inc.
AlixPartners announced Tuesday that David Garfield and Rob Hornby had been appointed as co-chief executive officers effective Feb. 1. They’re replacing Simon Freakley, the firm’s longtime CEO who is now executive chairman.
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