Integrated Asset Management Corp. and IAM Private Debt Group Announce Debt Refinancing, Acquisition Financing and Working Capital Financing for DBG Group Ltd.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/15/17 -- Integrated Asset Management Corp. ("IAM") (TSX: IAM) and its private corporate debt group, IAM Private Debt Group ("PDG"), announce the closing on August 1, 2017 of a $23,000,000 senior loan to DBG group Ltd. The capital raised by DBG Group Ltd. ("DBG") will be used to repay current creditors, fund a cross-border asset purchase, and assist in working capital needs.
DBG is a Canadian-based parts manufacturer to the heavy truck and auto industry. The company primarily provides the design and manufacture of metal stampings, structural welded, modular welded, and mechanical assemblies for truck manufacturers. DBG is strategically located in Canada, Mexico, and now the United States with the closing of the capital raise.
"We are excited to support DBG and its continued growth in North America. The company''s performance was strong throughout a challenging environment, a testament to the quality of DBG''s management, products and services. We are happy to include DBG in our portfolio and to provide patient capital for growth going forward," said Jeffrey Deacon, a Managing Director at IAM Private Debt Group.
IAM Private Debt Group manages and provides funding from Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IAM PDG offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, acquisitions, plant expansion or modernization, project financing and management buyouts.
IAM is one of Canada''s leading alternative asset management companies with approximately $2.5 billion in assets and committed capital under management in real estate and private debt.
Contacts:
Jeffrey Deacon
Managing Director
IAM Private Debt Group
416-933-8279
Philip S. Robson
President
IAM Private Debt Group
416-367-3972
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Datum: 15.08.2017 - 08:12 Uhr
Sprache: Deutsch
News-ID 1517633
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