IAM provides $36 mln of acquisition financing to Wolverine

Integrated Asset Management Corp (IAM) has provided a $36 million loan to Wolverine Management Services Inc (TSX-V: WEII), a Nisku, Alberta-based energy and infrastructure service company.

The proceeds of the deal, IAM’s fifth with Wolverine, will be used to fund a $50 million acquisition of an environmental services unit from an unidentified midstream business.

Founded in 1952, Wolverine provides midstream environmental services and oilfield services and rentals in Western Canada and the United States.

In January, IAM, a Canadian alternative asset management firm, closed its sixth private corporate debt fund, raising $843 million.

PRESS RELEASE

Integrated Asset Management Corp. Announces Acquisition Financing for Wolverine Management Services Inc.

TORONTO, March 01, 2019 (GLOBE NEWSWIRE) — Integrated Asset Management Corp. (“IAM”) (TSX:IAM) is pleased to announce the closing on February 28, 2019 of a $36,000,000 senior term loan to Wolverine Management Services Inc. (“Wolverine”) (TSXV:WEII)

This financing represents IAM’s fifth transaction with Wolverine. The capital will be used to fund the $50,000,000 acquisition of a leading environmental services division from a major mid-stream provider.

Wolverine is an industry-leading, diversified energy and infrastructure service provider in Western Canada and the U.S., providing a wide range of services including: water management, oilfield/energy rentals, heavy equipment sales and rentals, transportation and trucking rentals, and civil/infrastructure construction. Wolverine’s original business roots and operations began in 1952. Over the course of its history, the Wolverine group of companies have pursued a strategy combining organic growth and strategic acquisitions. Today, Wolverine is strongly positioned to consolidate a highly-fragmented energy services market in Western Canada, and is diligently focused on return on capital deployed, market diversification, and maintaining best-in-class services throughout the full life cycle of its diverse clients’ projects.

Jeffrey Deacon, Managing Director of IAM Private Debt Group, said, “Wolverine has continued to perform well and execute on their strategic initiatives. The company’s operating performance remained strong through a lingering downturn in Western Canada, which speaks to the strength of the management team. We are pleased to provide continuing support to Wolverine as they grow, and we believe this latest acquisition will provide significant value to the company.”

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 Private Debt Group offers fixed rate, senior secured 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 $ 3.1 billion in assets and committed capital under management in private debt, infrastructure debt and real estate.

For further information, please contact:

Jeffrey Deacon
Managing Director
IAM Private Debt Group
T: 416-933-8279/E: jdeacon@iamgroup.ca

Philip S. Robson
President
IAM Private Debt Group
T: 416-367-3972/E: probson@iamgroup.ca