VANCOUVER, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Maynbridge Capital Inc. (“Maynbridge”), an asset-based lender based in Vancouver, B.C. — 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-standing Maynbridge client that provides security and surveillance services in Western Canada through its wholly owned subsidiary Zedcor Security Solutions Corp.
Todd Ziniuk, President and CEO of Zedcor stated: “The partnership and support provided by Maynbridge over the years has been invaluable to the Company’s staying power during turbulent times and its transformation from an oilfield services rentals business to a leading security and surveillance services provider. Zedcor would not be the company it is today without the support Maynbridge provided and the belief it repeatedly demonstrated in our Company at its most critical periods”.
Maynbridge was instrumental in Zedcor’s successful shift in strategy from an oilfield services rentals business, towards remote surveillance with the utilization of solar-powered, light-tower technology.
“Following a very difficult time, we’re extremely pleased to see Zedcor through to traditional financing after a successful turnaround,” says Dean Shillington, President of Maynbridge Capital Inc., and Knightsbridge Capital Group. “Zedcor’s new credit facility is a significant milestone that will position the Company for a period of sustainable growth in the coming months and is a direct reflection of the commitment of the management team that has guided it through this difficult time”
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About Maynbridge Capital Inc. (“Maynbridge”)
Founded in 2013, Maynbridge’s vision is to successfully guide companies through the full spectrum of what are commonly considered “riskier situations” by the general financial community. By designing lending programs around improving a business’ cash flow and the injection of new working capital, Maynbridge successfully reinvigorates businesses to the point where they have the option to return to more traditional lenders within 12-36 months. Maynbridge offers loans from $2 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 fund strategies in debt and equity. The strategies are primarily driven through distressed and turnaround situations and span multiple asset classes including energy, infrastructure, real estate, and services. We work closely with our partners in the structuring of innovative solutions, which include reconstructing balance sheets and cash flows suited to assist a company in sustaining a busines turnaround. Our strategic partners range from public and private funds to high net-worth individuals and families.
