SI Group announced the completion of a comprehensive recapitalization transaction that significantly restructured its balance sheet.

The company reduced its outstanding net indebtedness by approximately $1.7 billion, representing a more than 80% reduction.

A new institutional ownership group injected $150 million of junior capital into the company. This investment will enable SI Group to fund the company's working capital needs, invest in key operational initiatives, and accelerate growth to serve the needs of its customers and business partners.

"This recapitalization represents an important step for SI Group," said David Bradley, President and CEO of SI Group. "By reducing our debt and securing new investment, we have strengthened our financial foundation, allowing us to continue investing in growth, improving operational capabilities, and supporting our customers worldwide. We appreciate the partnership of our new institutional investors, whose commitment reflects confidence in our strategy and positions us for long-term success."

The transaction was advised by several firms, including Latham & Watkins LLP, PJT Partners, and AlixPartners LLP for SI Group, while Akin Gump Strauss Hauer & Feld LLP and Lazard advised the lender group.