IAM Corp. acquires oil & gas production firm Lagasco Inc. for $22m

US oil index is prime

Canada’s alternative asset management company Integrated Asset Management Corp. (IAM) (TSX:IAM) announced that it has just closed a $22,000,000 senior secured term loan to Lagasco Inc. Lagasco is going to use IAM’s provided funds to purchase a portfolio of producing oil & gas assets located in Southwestern Ontario from a Limited Partnership.

LeapRate reminds that last month Fiera Capital acquired all of the outstanding common shares of IAM.

Brian Ko, Managing Director of IAM Private Debt Group commented:

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 Ontario business, which currently operates around 400 wells across the province. The acquisition will make Lagasco the largest oil & gas production company in Ontario.

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