Grant of new debt facility a sign of iJet’s operational strength in uncertain market.
Toronto, Ontario – MMV Financial is pleased to announce that it has provided a debt facility for an undisclosed amount to iJET Intelligent Risk Systems of Annapolis, MD. iJET, a leading provider of global intelligence and business resiliency services, secured the loan based on the company’s solid operating performance and growth trajectory. iJET will use the additional source of capital to maintain an aggressive growth strategy while continuing to develop innovative services and solutions.
“The need for business resiliency solutions is greater than ever, as multinational organizations are pursuing business opportunities in markets that were once deemed too risky due to security or other threats,” said Steve Hoffman, CEO of iJET. “We are pleased to have MMV supporting iJET’s continued growth as we support our clients with a broadening portfolio of resiliency solutions.”
This deal signals MMV’s significant confidence in iJET’s ability to expand its customer base and further develop its services in today’s challenging market.
“We were very impressed with iJET’s Intelligence Operations Center and with the high caliber of analysts covering global threats round-the-clock,” said Ron Patterson, Executive Vice President, MMV Financial Inc. “iJET is led by a seasoned management team and we believe that the company is well positioned to significantly grow its commercial business in parallel to its recent growth in the government sector.”
iJET helps multinational organizations monitor, protect against and respond to security, health, environmental and other operating threats around the world. iJET’s award-winning Worldcue® solutions automate and centralize the information and processes required for effective business resiliency, reducing risks and costs. For the second year in a row, iJET was recognized by Deloitte as a Maryland Fast 50 Company, one of the top fifty fastest growing companies in the state.
iJET is privately held with investments from Longworth Venture Partners, EuclidSR Partners, Novitas Capital, Seneca Capital Partners and the Albermarle Group.
About iJET Intelligent Risk Systems
iJET Intelligent Risk Systems is a leader in business resiliency, helping multinational corporations and government organizations monitor, protect against and respond to global threats. Integrating world-class open source intelligence with patented technology, iJET’s award-winning Worldcue® solutions help clients monitor and assess global threats relative to their key people, facilities and supply chain assets; automatically track and communicate with travelers and expatriates; and deploy emergency response services throughout the world at a moment's notice. Providing a unified view of threats to assets, iJET enables clients to mitigate risks, reduce corporate liability and prepare for and respond to business disruptions. For more information, visit the company's web site at: http://www.ijet.com/
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, HSBC Bank Canada, Fonds de Solidarite des Travailleurs du Quebec, NewStar Financial Inc., ROI Capital, and Wells Fargo Company. For more information please visit: www.mmvf.com
Ron Patterson
Executive Vice President
MMV Financial
Tel: (416) 977-9718
Fax: (416) 591-1393
Email: rpatterson@mmvf.com