FirePower Capital, Canada’s entrepreneurial investment bank for the lower mid-market, is pleased to announce that it acted as the exclusive advisor to Icarus Aviation Ltd. (“Icarus”), with regards to its subordinated debt capital raise of $2.6 million USD.
Icarus engaged FirePower Capital to raise the necessary capital after changing its ships’ flags to a non-Canadian jurisdiction to gain access to a worldwide talent pool, which made traditional bank financing impossible to access. Mike Lever, President of Icarus, said: “I was impressed with FirePower’s level of commitment and sophistication even ahead of partnering together. It could have been all talk, but the FirePower team delivered on their promises.”
FirePower structured a transaction that proved suitable to First West Capital, a fast-growing alternative lender based in Vancouver, who beat out other capital providers, working with us to provide an optimal solution given the complex circumstances.
Based in Richmond, BC., Icarus operates two live-aboard dive vessels off the Pacific Coast of Mexico, specializing in multi-day big animal diving adventures. With this new capital, Icarus will complete the build of the latest addition to its fleet, the Belle Amie.
About FirePower Capital
FirePower Capital is an entrepreneurial investment bank that focuses exclusively on advising private lower mid-market companies in Canada on their strategically important M&A and non-dilutive capital financing transactions.
For more information, please contact:
Ilan Jacobson, MBA
President & CEO