AlixPartners consultants win ‘Turnaround,’ ‘Transaction’ of the year awards
The Turnaround Management Association (TMA) has named two AlixPartners consultants as recipients of awards for “Mega Company Turnaround of the Year” and “International Transaction of the Year.” Lisa Donahue took home the “Turnaround” award, while Alastair Beveridge is the winner of the “Transaction” award.
Donahue is a managing director and global co-leader of AlixPartners’ turnaround and restructuring practice. Her award comes from her work with Westinghouse Electric Company, for which she was the chief transition and development officer. In August 2018, Westinghouse finalized its sale to Brookfield Business Partners LP and subsequently emerged from chapter 11. The sale was worth $4.6 billion. The restructuring led to annual EBITDA improvements of approximately $250 million.
Beveridge is a managing director at the firm. His award recognizes his contribution as a restructuring advisor to Agrokor d.d. Agrokor is a food and retail conglomerate, and the largest corporation in the Balkans region. In July 2018, it inititated a €6 billion debt restructuring process. Via the restructure, 100% ownership was delivered to its creditors via a “debt-to-equity” trade.
“I congratulate Lisa, Alastair, and the members of their project teams for their incredible diligence, teamwork, and collaboration in successfully completing two of the most complicated business transformations that our firm has ever seen,” Joff Mitchell, a managing director and global co-leader of Alixpartners’ turnaround and restructuring practice, said. “Given their wide-reaching impacts, both Agrokor and Westinghouse are assignments which embody AlixPartners’ ‘When it really matters’ approach. I am especially proud of every member of the multi-functional and cross-border teams we deployed, all of whom combined to deliver the best possible results for our clients and other key stakeholders in these two hugely significant restructuring cases.”
The TMA was established in 1988 and includes approximately 9,000 members in its 52 global chapters – 32 of which are in North America. The awards were presented to Donahue and Beveridge at the association's 31st annual conference in Cleveland, Ohio, in September. Alixpartners was founded in 1981. It is headquartered in New York and operates out of offices in more than 20 cities globally.
