Universal mCloud nabs $13 mln loan from former IAM fund
Universal mCloud Corp (TSX-V: MCLD) has received a $13 million loan from Integrated Private Debt Fund VI. The proceeds will be used to support the recent acquisition of Autopro Automation Consultants Inc, a Calgary-based engineering consulting firm specializing in automation solutions, reduce debt, and provide working capital. Based in Vancouver, Universal mCloud provides artificial intelligence-enabled technology solutions to help businesses manage their energy assets. Integrated Private Debt Fund VI closed this year at $843 million. Its manager, Integrated Asset Management Corp, was later acquired by Fiera Capital Corp.
12 August 2019•3 mins read
