Dynata Exits court-supervised restructuring process with
significantly deleveraged balance sheet and new financing to
support the Company's transformation plan
SHELTON,
Conn., July 16, 2024 /PRNewswire/ -- Dynata,
LLC ("Dynata" or the "Company"), the most trusted source for
reliable, accurate first-party data, announced today full emergence
from its Chapter 11 bankruptcy filing with a significantly improved
capital structure and marking another milestone towards advancing
the Company's business transformation. The Company's emergence from
Chapter 11 comes just five weeks after filing.
As a result of the prepackaged Chapter 11 filing, Dynata reduced
almost 40% of its total debt from approximately $1.3 billion to $780
million. The Company's new equity owners are a group of
institutions led by Bain Capital, certain funds and accounts
managed by Black Rock Financial Management, Inc., and investment
vehicles advised by First Eagle Alternative Credit. Dynata's new
equity owners have provided $81.5
million in total financing to the Company.
Dynata is the largest global provider of first-party consumer
insights data. The Company has embarked on a business
transformation led by CEO Mike
Petrullo. Petrullo joined Dynata in October of 2022 and has
focused on continuing to build upon the Company's strengths while
taking significant steps to strengthen its operational and
financial performance to position Dynata for long-term success.
"Having negotiated several financial restructuring plans in my
career, this one stands out; not only for the magnitude of what we
accomplished as a business, but also for the expediency at which we
achieved it. The strength of our relationship with our new equity
owners led by Bain Capital, BlackRock, and First Eagle and their
belief in Dynata's distinct advantage in the marketplace was the
catalyst to forming our prepackaged plan and moving so swiftly
through the Chapter 11 process, and I am excited about what is to
come," said Petrullo. "At Dynata we have an unrelenting focus on
delivering the highest-quality, fully permissioned first-party
consumer insights data. This distinct competitive advantage,
coupled with an impeccable focus on customer service, is the
cornerstone for delivering the actionable insights that our
customers rely on to fuel mission-critical business decisions."
Dynata is renowned for having an unmatched commitment to data
quality. In May, Dynata achieved further recognition by winning the
overall 2024 I-COM Global Data Creativity Awards, securing first
place in the Data Quality category.
Willkie Farr & Gallagher LLP
is serving as Dynata's legal advisor in connection with the
restructuring. Alvarez & Marsal North
America, LLC serves as its restructuring advisor and
Houlihan Lokey, Inc. serves as its
investment banker.
Gibson, Dunn & Crutcher LLP is serving as lead counsel and
PJT Partners LP is serving as investment banker to an ad hoc group
of controlling first lien lenders in connection with the
restructuring.
Vinson & Elkins LLP is serving as lead counsel and Lazard is
serving as investment banker to an ad hoc group of controlling
second lien lenders in connection with the restructuring.
About Dynata
Dynata is the world's largest first-party data Company for
insights, activation and measurement. With a reach that encompasses
70 million consumers and business professionals globally, and an
extensive library of individual profile attributes collected
through surveys, Dynata is the cornerstone for precise, trustworthy
quality data. The Company has built innovative data services and
solutions around its robust first-party data offering to bring the
voice of the customer to the entire marketing continuum — from
uncovering insights to activating campaigns and measuring
cross-channel marketing return on investment. Dynata serves more
than 6,000 market research, media and advertising agencies,
publishers, consulting and investment firms and corporate customers
in North America, South America, Europe, and Asia-Pacific. Learn more at
www.dynata.com.
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SOURCE Dynata