Private Debt Partners funds $7,350,000 to Imperial Concrete
MONTREAL, Jan. 6, 2022 /CNW Telbec/ - Private Debt Partners ("PDP") is pleased to announce it has funded $7.35 million to Imperial Concrete ("Imperial Concrete"). The proceeds will fund the purchase of new mixer trucks, will refinance existing capital leases, and will provide additional working capital. With PDP's longer amortization, Imperial Concrete will achieve significant cash flow savings to reinvest into growth. The deal funded on December 29th, 2021 from PDP's Senior Opportunities Fund.
Imperial Concrete President Yann Lambert commented, "We found that the team at Private Debt Partners made a significant effort to understand our business and the growth trajectory we are on. The efficient timeline to closing and customized loan structure further enhanced our position as a national player in the ready mix rental industry in Canada."
PDP Managing Partner Jean-Christophe Greck commented, "We are excited to partner with Imperial Concrete which has achieved tremendous growth over the last 5 years. The outlook is very promising for their business and we are excited to support this experienced management team." Imperial Concrete and PDP look forward to this long term partnership.
This transaction demonstrates the continuing deployment PDP's Senior Opportunities Fund ("SOF"). The SOF had a first closing on April 15th, 2021 and PDP is actively working to deploy senior term financing solutions to growing companies in the Canadian mid-market.
ABOUT IMPERIAL CONCRETE
Imperial Concrete is a Quebec-based provider of concrete mixer rentals to concrete manufacturers in Ottawa, Montreal, and Toronto. Imperial Concrete maintains a strong reputation for reliable and flexible rental services. The company was founded by two industry professionals with over 25 years of experience in the construction industry. Imperial Concrete has partnered with PDP to bolster cash flow preservation and to support the company's growth strategy.
ABOUT PRIVATE DEBT PARTNERS
Private Debt Partners is a private debt firm solely focused on Canadian mid-market opportunities. PDP originates and structures senior secured loans to high-quality companies. PDP was co-founded by Jeffrey Deacon, Greg Dimmer and Jean-Christophe Greck who combined bring over 35 years of experience in fundraising, origination, portfolio management and underwriting. Lead investors include Stephen Lister and Thomas MacMillan. Additional information on PDP is available at www.privatedebt.com
SOURCE Private Debt Partners
Media Contact: Jean-Christophe Greck, [email protected]
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