Daily News: March 7, 2019

IAM Closes $45MM Term Loan for Lighthouse Finance

Integrated Asset Management closed a $45 million term loan for Lighthouse Finance. The financing will be used to fund an operating lease package for Cooke Aquaculture.

The term loan will finance a portfolio of marine vessels and aquaculture equipment, including hydro-licer and thermo-licer technologies, allowing Cooke access to environmentally friendly, pesticide-free treatment options in the event of sea lice infections.

Stephen Zagrodny, director of IAM Private Debt Group, said, “IAM is excited to partner with such a high-quality business and contribute to Cooke’s incredible growth story. We worked very hard with the Cooke and Lighthouse teams to deliver an operational lease structure for this transaction, which demonstrates the flexibility we can offer borrowers. We hope to continue building this relationship and are looking forward to a long-term partnership with both Cooke and Lighthouse.”

Lighthouse Finance is an operational leasing and asset management company focused on the global aquaculture industry.

Founded in 1985 and based out of Black’s Harbour, NB, Cooke is a family-owned business and fully integrated seafood company with operations spanning the Atlantic Provinces, United States, Chile, Spain, Argentina, and the United Kingdom.

IAM manages and provides funding from Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors.