Integrated Asset Management Corp. (“IAM”) (TSX:IAM) and its private corporate debt group, IAM Private Debt Group (“IAM PDG”), announce the closing of senior loans to Kinectrics Inc. (“Kinectrics”) and to Kinectrics Enterprises Inc.
The capital provided to Kinectrics Inc. will be used to fund the acquisition of Wood Group’s (formerly AMEC Foster Wheeler’s) Nuclear Americas business (“Wood AN”).
Wood AN is a provider of project management, engineering design, technical consulting, safety services and lifecycle management for nuclear power infrastructure.
The proceeds of the Kinectrics Enterprises financing will be used to fund the construction of two facilities, one near the Bruce Power facility and another in Teeswater, ON.
Kinectrics is a leading provider of life cycle management solutions to the nuclear and electric utilities industries. The company offers comprehensive engineering services to help design and implement new technologies for generation, transmission, distribution, and environmental applications.
For complete details, please click here.