Dye & Durham

Canaccord Genuity Acts as Exclusive Financial Advisor to Dye & Durham on its C$1.8 Billion Recapitalization

Canaccord Genuity is pleased to announce that on December 6, 2021, its client Dye & Durham Limited (“D&D” or the “Company”) (TSX: DND) completed its recapitalization with Ares for a ~C$1.8 billion senior secured credit facility (the “Ares Facility”). The Ares Facility is comprised of a C$1,520 million initial term loan, a C$200 million delayed draw term loan, and a C$75 million revolving credit facility. The Company intends to use the proceeds from the recapitalization to repay the amounts outstanding from its existing term loan facility of ~C$240 million and to finance its continued acquisition strategy.

D&D is a leading provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. D&D has operations in Canada, the United Kingdom, and Australia, and has a strong blue-chip customer base that includes law firms, financial service institutions, and government organizations.

Since 2018, Canaccord Genuity has advised the Company on 17 completed transactions, including a private investment from Manulife, seven acquisitions, a dividend recapitalization, the IPO, two bought deal private placements, three bought deal public offerings, a block trade, and the above recapitalization. In total, Canaccord Genuity has raised ~C$3.3 billion for D&D since July 2020, on eight transactions, including treasury and secondary offerings, and debt financings.