Dye & Durham to pay down debt with proceeds from TM Group sale

By Mary-Katherine Stinson

Lexington, Ky., July 10 – Dye & Durham Ltd. will use the proceeds from its pending sale of TM Group (UK) Ltd. to pay down debt, according to a press release.

The sale of TM Group to Aurelius is expected to close in August.

Dye & Durham will receive approximately £50 million in cash at closing, with up to £41 million in potential additional earn-out payments between 2023 and 2026, for total consideration of up to £91 million, subject to certain adjustments.

Dye & Durham is a provider of cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. The company is based in Vancouver, B.C.

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