Decisive Dividend acquires Innovative Heating Technologies

KELOWNA — Decisive Dividend Corporation is acquiring Innovative Heating Technologies Inc. for $15.5 million, from arm’s length parties. Innovative Heating Technologies Inc. (IHT), located outside of Winnipeg, Manitoba, is an established manufacturer and developer of high efficiency heating mats and lighting solutions for hog production.

Decisive has entered into an agreement with its senior lenders, Canadian Western Bank and CWB Maxium Financial Inc., a wholly owned division of Canadian Western Bank (CWB), to increase the corporation’s overall debt availability from $53 million to $68 million, extend the term of the agreement, and lower its borrowing costs on its increased revolving term acquisition facility by 0.5%. Further details on the increase in Decisive’s credit facilities are provided below.

“With this announcement, in the last 15 months Decisive has acquired six businesses, added over $17 million of Adjusted EBITDA to our portfolio, representing an increase in Adjusted EBITDA per Common Share of 84% on a pro forma basis, all while also increasing our monthly dividend three times during that same period, demonstrating how accretive our acquisition-focused growth and yield strategy is for our shareholders,” said Jeff Schellenberg, Chief Executive Officer, Decisive. “As we look into the future, we continue to see significant opportunities to continue this trajectory, supporting value creation for all of our stakeholders.”