TORONTO, ONTARIO–(Marketwired – June 28, 2017) – Integrated Asset Management Corp. (“IAM”) (TSX:IAM) and its private corporate debt group, IAM Private Debt Group, announce the closing on June 14, 2017 of a $4,000,000 senior term loan to Wolverine Group Inc. (“Wolverine”) as a follow-on to the first loan disbursed in July 2016. The capital raised allowed the acquisition of a civil work contractor, adding to the scope of services within the company.
Wolverine provides a diverse mix of services for oil and gas companies, and ensures optimal operations for upstream, midstream and downstream customers. Core services include equipment rentals, well site services, construction, seismic, trucking and logistics. Wolverine is strategically located across Alberta and northern British Columbia to support clients from Western Canada.
Jeffrey Deacon, Managing Director of IAM Private Debt Group said “It is important for us to continue supporting the growth of an existing borrower when management successfully executes on their strategic plan like Wolverine. The ability to integrate additional service lines to their core business has been proven over time. Operating performance remains strong in a challenging environment, which speaks to the strength of the management team at Wolverine.”
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 Private Debt Group offers fixed rate, senior secured 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.
Managing Director
IAM Private Debt Group
416-933-8279
jdeacon@iamgroup.ca
Philip S. Robson
President
IAM Private Debt Group
416-367-3972
probson@iamgroup.ca
www.iamgroup.ca