On March 12, 2024, Avison Young, a leading global commercial real estate advisor, successfully completed a comprehensive financial recapitalization transaction, significantly enhancing its financial stability. The transaction, unanimously approved by all financial partners, reduced the company's financial obligations by over half and secured additional capital to further its strategic initiatives. CEO and Chair Mark E. Rose highlighted the positive impact on shareholder equity and the company's ability to deliver top-tier client service as the industry recovers.

The transaction resulted in a sustainable capital structure with a de-levered balance sheet and new investment from financial partners, allowing Avison Young to better serve its clients. The company's Principals retained a significant majority of equity ownership, preserving its Principal-led structure. U.S. rating agencies are expected to re-rate the company's post-transaction debt structure soon, reflecting its improved financial position.

As part of the recapitalization, Avison Young will establish a smaller, independent Board of Directors, chaired by Rose, with details to be announced in the coming weeks. Financial advisors for Avison Young included Centerview Partners LLC, Kobre Capital LLC, and Long Castle Advisors, Corp. Legal advisors were Stikeman Elliott LLP (Canada), McDermott Will & Emery LLP (US), and DLA Piper LLP (US and UK). C Street Advisory Group served as communications advisor. Lazard Frères & Co. and Paul Hastings LLP advised the syndicated lender group.