10:15 AM EDT, 03/14/2024 (MT Newswires) -- Decisive Dividend Corp. ( DEDVF ) said Thursday that it agreed to acquire the assets of Alberta Production Machining Ltd. (APM) for $2.7 million.

Decisive Dividend ( DEDVF ) said the assets are operated out of a leased facility in Edmonton, Alberta, and provide subsidiary Hawk Machine Works Ltd. with increased machining capabilities and access to additional equipment.

Decisive Dividend ( DEDVF ) funded the acquisition using its new syndicated credit facility, bringing its cumulative acquisition funding mix to 50% debt and 50% equity.

"Acquiring the assets of APM was an important opportunity for us to support organic growth of Hawk, an entity that has been performing extremely well; experiencing significant growth in 2023 on the back of Tim's efforts to grow and diversify the business," Decisive Dividend ( DEDVF ) CEO Jeff Schellenberg said.

Separately, the company said it closed a $175 million syndicated credit facility, increasing its overall debt capacity from $68 million previously. All drawn amounts will mature in March 2027.

Decisive Dividend ( DEDVF ) said the facility provided the company with additional liquidity to fund growth in its existing operations.

National Bank of Canada and Canadian Western Bank acted as co-lead arrangers and joint bookrunners. Royal Bank of Canada and Federation des caisses Desjardins du Quebec were also part of the syndicate of banks.