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2/27/24
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Avison Young has agreed to a comprehensive deleveraging transaction with its current financial partners that better positions Avison Young for the future. Through this transaction, Avison Young has reduced its financial obligations by more than half and has secured additional capital to advance its strategic goals.
Avison Young enters into this transaction with a group representing substantially all of the company’s existing lenders and capital partners. Through this arrangement, Avison Young has better stabilized its financial foundation and secured additional resources to invest in the people and solutions that will improve the company’s ability to serve its clients and partners well into the future. The transaction preserves Avison Young’s culture as a principal-led and owned firm, with principals and management retaining a significant majority ownership stake in the company.
As part of the transaction process, Avison Young entered into an agreement with its lenders through which the company was not required to make certain payments on its term loan. The company has made all required payments during this process. The transaction is expected to close in March.
Centerview Partners LLC, Kobre Capital LLC, and Long Castle Advisors, Corp. served as financial advisors, Stikeman Elliott LLP (Canada), McDermott Will & Emery LLP (US), and DLA Piper LLP (US and UK) served as legal advisors, and C Street Advisory Group served as communications advisor to Avison Young.
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