March 10, 2017 08:30 ET
TORONTO, ONTARIO--(Marketwired - March 10, 2017) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate debt group, IAM Private Debt Group ("PDG"), announce the closing on February 28, 2017 of a $35 million senior term loan to Teutech Industries Inc. The total acquisition cost was $58 million as per the Share & Asset Purchase Agreement.
The capital raised by Teutech Industries Inc. will allow a transfer of control to The Hi-Tech Gears Ltd. (IN:HTG) an auto component manufacturer of world class repute based in Gurgaon, India.
Philip Robson, President of IAM Private Debt Group said "The opportunity to finance the acquisition of Teutech Industries by The Hi-Tech Gears is the beginning of a long term relationship for us. The expertise mix of both companies is a positive going forward, improving the breadth of products being manufactured. Teutech was a logical footprint for The Hi-Tech Gears in North America, and we're pleased to have this group in our portfolio."
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 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.
Jeffrey DeaconManaging DirectorIAM Private Debt GroupT: 416-933-8279E: email@example.comPhilip S. RobsonPresidentIAM Private Debt Group416firstname.lastname@example.org
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