Integrated Asset Management Corp.

Integrated Asset Management Corp.

October 07, 2009 09:23 ET

Integrated Asset Management Corp. Announces $17 Million Financing for Soave Hydroponics Company

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2009) - Integrated Asset Management Corp. (TSX:IAM) ("IAM") and its private corporate debt group, Integrated Private Debt Corp.("IPD") announced today the closing of a C$17 million long term financing for Soave Hydroponics Company ("The Company"). The $17 million term loan replaces a construction loan used to develop a new power facility in Kingsville, Ontario.

Soave Hydroponics Company owns and operates a 12 mega-watt tri-generation energy facility in Kingsville, producing electricity, thermal energy and carbon dioxide. The facility supplies enough electricity to the Ontario market to power 5,000 residential homes in the local area, while thermal energy and carbon dioxide are supplied to Great Northern Hydroponics' 50-acre greenhouse facility.

Great Northern Hydroponics is a subsidiary of Soave Hydroponics Company specializing in fresh tomato production, with production capacity of over 9,200,000 kgs annually.

John Robertson, President of IPD, said "we are pleased to be supporting such a strong, forward-looking management team and we believe this facility represents one of the most advanced and environmentally sustainable projects of its kind across Canada".

IPD manages and provides funding from the $1.0 billion Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, plant expansion or modernization, project financing and management buyouts.

IAM is Canada's leading alternative asset management company, with approximately $2.1 billion in assets and committed capital under management in private debt, private equity, managed futures, real estate and retail alternative investments.

Contact Information

  • Integrated Private Debt Corp.
    Steve Kerr
    Associate Director