Integrated Asset Management Corp. and IAM Private Debt Group Announce Financing for JMB Crushing Systems ULC

TORONTO, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Integrated Asset Management Corp. (“IAM”) (TSX:IAM) is pleased to announce the closing of a senior term loan to JMB Crushing Systems ULC (“JMB”), a portfolio company of Seattle-based private equity firm Westward Partners, LLC. This financing represents IAM’s third transaction with JMB, following the two initial tranches of debt which were advanced in April and June 2017.

JMB has been producing and distributing gravel, sand, rocks and other materials for over 30 years, supplying aggregates from quarries and gravel pits across a number of different regions.  JMB’s aggregates are used for a variety of applications including industrial projects, oilfield developments, asphalt and concrete production and road work, giving the Company a broad, diversified customer base.

Stephen Zagrodny, Director of IAM Private Debt Group said: “JMB has performed well since entering our portfolio in 2017. We are pleased to provide continuing support to this well-managed business and believe that JMB is poised for additional future growth.”

IAM 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, 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 $2.3 billion in assets and committed capital under management in private debt, infrastructure debt and real estate.