Integrated Asset Management Corp. (TSX: IAM) announced its private corporate debt group, IAM Private Debt Group, on April 11, 2017 closed a senior term loan to JMB Crushing Systems ULC, a portfolio company of Seattle based private equity firm Westward Partners, LLC.
Founded in the late 1970’s, JMB Crushing Systems is one of the most experienced aggregate operation in Alberta. JMB’s President, Jeff Buck, purchased the company from his father over 20 years ago. In June 2011, Westward Partners, a smaller middle market private equity firm, acquired a majority stake in JMB.
The capital raised by JMB will allow the business to refinance existing debt and free up working capital to support its growing operations in Western Canada and the Northwest United States.
“We are pleased to include JMB, a well-managed and sponsored firm focused on long term infrastructure growth in Western Canada and the United States in our portfolio. The structure of our funds is well suited to meet the long term, patient capital needs of firms such as JMB,” said Philip Robson, President of IAM Private Debt Group.
photo credit: JMB Crushing Systems