Dye & Durham closed its previously announced divestiture of Credas Technologies to SmartSearch, an established UK provider of anti-money laundering software and a portfolio company of Triple Private Equity. Under the terms of the Transaction, Dye & Durham received gross cash proceeds of approximately GBP 77.8M, or approximately C$146.3M. The Company intends to use all of the net proceeds from the Transaction to repay outstanding senior secured debt, advancing its deleveraging priorities and further strengthening its balance sheet. As part of the Transaction, Dye & Durham has entered into a commercial agreement with Credas and SmartSearch, ensuring continuity of service for the Company’s practice management and data insights customers in the UK.
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