Dynata exits bankruptcy proceedings with new equity owners

In a statement, the company said that it had emerged from bankruptcy proceedings “with a significantly improved capital structure”, and that because of the prepackaged Chapter 11 filing, Dynata reduced almost its total debt by almost 40% from around $1.3bn to $780m. 

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 had filed for Chapter 11 in May 2024. A Chapter 11 case in the US allows companies to remain operational while also proposing a plan of reorganisation.

Mike Petrullo, chief executive at Dynata, said: “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.”