AlixPartners received two awards this year from the Turnaround Management Association. The company won the Turnaround of the Year – Mega Award for its work with Chassix Holdings and the Transaction of the Year – Large Company for its work on behalf of Altegrity.

For Chassix, AlixPartners developed and implemented a strategy for restructuring and recapitalizing the automotive industry supplier. This included de-leveraging the balance sheet, negotiating with automaker customers and developing and implementing a turnaround plan for the company’s largest plant. Chassix emerged from bankruptcy within five months of its filing.

The team working on Chassix was led by Anthony Flanagan and Ted Stenger, both managing directors at AlixPartners. The team included Michael Albritton, Kurt Beckeman, Emily Harte, Steve Hilgendorf and Mark Wakefield.

“We are honored to have won this award, to have had the opportunity to represent a prestigious group of noteholders and work with so many distinguished professionals in the turnaround industry,” Flanagan said. “We are especially pleased with the dramatic turnaround at Chassix and the value that was created for constituents.”

An AlixPartners team advised risk and information services company Altegrity in the restructuring and recapitalization of the company, including developing business plans, managing liquidity and financial reporting throughout the process.

That engagement team at Altegrity was led by Carrianne Basler and Kevin McShea, managing directors at AlixPartners. The team included Susan Brown, Patrick Farley, Patrick Hoban, Jeff Ivester, Nathan Kramer, Richard Robbins and Steve Spitzer.

“The entire team of professionals worked extremely well together in achieving an outstanding outcome for the company in a condensed timeframe,” said Basler. “Given the sensitivities of restructuring a professional services firm, an efficient, coordinated effort was key to a successful outcome.”

The TMA’s Annual Conference will be held November 3 at Disney’s Yacht Club Resort in Lake Buena Vista, FL.