IAM is pleased to announce the closing of a $22,000,000 senior secured term loan to Lagasco Inc. (“Lagasco”). The funds provided by IAM will be used by Lagasco to purchase a portfolio of producing oil & gas assets located in Southwestern Ontario from a Limited Partnership.
Brian Ko, Managing Director of IAM Private Debt Group said, “IAM is excited to partner with Lagasco and help facilitate the continued growth of the business. Management has an extensive track record of operating producing assets in Ontario. Their strong working knowledge of these assets will drive profitability going forward.”
Lagasco is a family-owned business which has been operating in the Ontario energy sector for over 35 years. The company currently operates around 400 wells across the province and the aforementioned acquisition will make Lagasco the largest oil & gas production company in Ontario.
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