Avison Young Recapitalizes to Fund Growth Strategy
Avison Young has reached an agreement with its financial stakeholders on a recapitalization that will sharply reduce debt, lower interest costs, and provide new capital for expansion.
Building on a successful 2024 recapitalization, and with the firm’s stabilization now complete, the deal positions Avison Young for its next phase of growth through organic expansion and targeted acquisitions, the firm noted.
“With a strengthened balance sheet and enhanced liquidity, we now have the financial muscle to accelerate our growth strategy while maintaining our unwavering commitment to client services,” said Mark E. Rose, chair and CEO of Avison Young.
The transaction reduces the firm’s debt and preferred equity position by nearly 70%, bringing both to historic lows, Rose told Connect Money, and decreases annual cash interest expenses by more than 70%, freeing up capital for strategic investment.
Existing financial partners have taken a meaningful common equity ownership stake, with ownership expected to be roughly split 50/50 between principals and converting lenders, Rose added.
The deal deleverages the global real estate advisory firm’s balance sheet to a debt-to-EBITDA ratio of less than three times, and a similar-sized new credit facility is planned alongside “tens of millions of dollars” in new available cash. The firm’s EBITDA increased by “several hundred percent” from a year earlier and has remained cash-flow and EBITDA positive each year, Rose said.
Planned uses of capital include recruiting teams, tuck-in acquisitions, larger acquisitions across a wider size spectrum, and continued investment in technology and market intelligence platforms, Rose said. Recruiting and acquisition conversations are already underway ahead of closing, which is expected in October 2026.
The firm reported improved global operating performance during the first half of 2026. U.S. capital-markets revenue led the recovery, while recurring and other non-brokerage businesses supported growth in Canada.
In the UK, the firm strengthened its leadership with the May appointment of George Roberts as president, with the team finalizing an accelerated growth strategy expected to be unveiled later this year. Rose characterized a separate U.K. tax matter as “minor”, resolved and unrelated to the recapitalization.
Pictured: Mark E. Rose, chair and CEO of Avison Young.
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