Zedcor Pivots Strategy and Now Works With Traditional Financing After Successful Turnaround
VANCOUVER, Nov. 08, 2021 (GLOBE NEWSWIRE) – Maynbridge Capital Inc. (“Maynbridge”), an asset-backed lender based in Vancouver, British Columbia – a subsidiary of Knightsbridge Capital Group – is pleased to announce the successful refinancing of its senior secured credit facility with Zedcor Inc. (“the Company” or Zedcor ”, TSX-V: ZDC).
Zedcor Inc. is a long-time Maynbridge client providing security and surveillance services in Western Canada through its wholly owned subsidiary Zedcor Security Solutions Corp.
Todd Ziniuk, President and CEO of Zedcor said: “The partnership and support provided by Maynbridge over the years has been invaluable to the company’s continued existence during times of turbulence and its transformation into a rental car business. oilfield services into a leading provider of security and surveillance services. Zedcor would not be the company it is today without the support provided by Maynbridge and the confidence it has repeatedly shown in our company in its most critical times.
Maynbridge was instrumental in the successful transition of Zedcor’s strategy from an oil service rental company to remote monitoring with the use of solar powered light tower technology.
“After a very difficult time, we are extremely pleased to see Zedcor transition to traditional financing after a successful turnaround,” said Dean Shillington, President of Maynbridge Capital Inc. and Knightsbridge Capital Group. “Zedcor’s new credit facility is an important milestone that will position the Company for a period of sustainable growth over the coming months and is a direct reflection of the commitment of the management team who have guided it through this hard time “
About Maynbridge Capital Inc. (“Maynbridge”)
Founded in 2013, Maynbridge’s vision is to successfully guide businesses through the full spectrum of what are commonly considered “riskier situations” by the financial community at large. By designing loan programs around improving a company’s cash flow and injecting new working capital, Maynbridge successfully invigorates businesses to the point that they have the opportunity to return to more lenders. traditional within 12 to 36 months. Maynbridge offers loans of $ 2 million to $ 50 million, with supporting underlying assets, in industrial and commercial property, equipment and rolling stock.
About Knightsbridge Capital Group
Knightsbridge Capital Group is a family office that creates investment value through its various debt and equity fund strategies. The strategies are mainly driven by distress and recovery situations and cover several asset classes, including energy, infrastructure, real estate and services. We work closely with our partners in structuring innovative solutions, which include rebuilding balance sheets and tailored cash flows to help a business support a business turnaround. Our strategic partners range from public and private funds to high net worth individuals and families.
CONTACT: Kate MacDougall Camber Communications +1 (604) 862-5191 / +1 (647) 930-7020 [email protected]