Integrated Asset Management Corp. and IAM Private Debt Group Announce Acquisition and Working Capital Financing for Spark Power Corp.
TORONTO, ONTARIO--(Marketwired - Jan. 12, 2017) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate debt group, IAM Private Debt Group ("PDG"), announce the closing on December 31, 2016 of a senior loan to Spark Power Corp.
The capital raised by Spark Power Corp. will assist in working capital needs and asset purchase of New Electric Enterprises Inc.
Philip Robson, President of PDG said "We are thrilled to partner with Spark by providing long term fixed rate capital in their acquisition of New Electric. Spark's management has an excellent track record of evaluating opportunities and their growth has been tremendous."
PDG manages and provides funding from Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. 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 $2.6 billion in assets and committed capital under management in real estate and private debt.
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