Lenders to cloud software firm Dye & Durham have retained financial adviser Houlihan Lokey as the company's capital position faces increased scrutiny.
Dye & Durham Ltd., a Toronto-based software company serving legal and financial services sectors, is drawing closer lender oversight as its financial situation deteriorates.
The engagement of Houlihan Lokey signals lenders are preparing contingency plans amid rising concerns about the firm's balance sheet. The adviser typically handles restructuring, debt refinancing, and distressed situations.
Dye & Durham went public in 2021 and has faced mounting challenges in recent years, including debt obligations and slowing growth. The company's capital constraints have prompted lenders to take a more active role in monitoring operations and potential strategic options.
Houlihan Lokey's mandate reflects lenders' desire to protect their interests while exploring paths forward for the software company. The firm provides critical infrastructure to legal and financial professionals in Canada and the U.S.
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