Dynata Emerges from Chapter 11

Just five weeks after entering a Chapter 11 bankruptcy program, Dynata is out again. The firm announced the completion of the pre-agreed, court-supervised restructuring process and confirmed that its total debt has been reduced from c.$1.3 billion to $780 million.

Dynata was created from the 2018 merger of Research Now and SSI, creating the industry's largest provider of online panel data and technology-based research solutions based on opted-in, first-party data. The company serves more than 6,000 market research, media and advertising agencies, publishers, consulting and investment firms and corporate customers across the globe.

The Chapter 11 agreement was announced in the second half of May, after the firm had negotiated the write-down of more than half a billion dollars in debt with its investors, who in return now own 100% of the company. The process does not affect Dynata's businesses outside the US, and is intended to provide stability for a 36-month 'transformation plan'.

The new owners are a group of institutions led by Bain Capital, funds and accounts managed by Black Rock Financial Management, Inc., and investment vehicles advised by First Eagle Alternative Credit. These firms have also provided $81.5 million in financing to the Company, with which to continue the 'transformation'.

CEO Mike Petrullo (pictured), who joined the company in October 2022, says of the news: 'The strength of our relationship with our new equity owners... 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'.

Web site: www.dynata.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.