The recent investment of just over $50 million by Dequity Capital Management has put iCreate Limited in a better position to realise available growth opportunities, iCreate CEO and Founder Tyrone Wilsin has said.
The investment, Wilson pointed out, positions iCreate, with a healthier balance sheet, including vastly reduced payables and almost no debt.
“This investment is enabling us to move more quickly to sustained profitability and to market leadership in the areas that we have identified as key growth areas going forward. We are grateful for the investment from Dequity which has been in the pipeline a while back between both parties.”
Wilson outlined the areas that the company will focus on for growth. They include a multi-disciplinary Creative City project, media production and outdoor advertising.
Wilson disclosed that iCreate is targeting the potential acquisition of a company in the creative sector during this quarter, with negotiations at an advanced stage.
“This acquisition will position iCreate as a major player in the digital and creative space locally. What we are seeing here is the positioning of iCreate as a creative powerhouse.”
iCreate, Wilson added, also remains focussed on expanding the reach of its digital training and education arm, iCreate Institute, partnering with world-leading educational and training entities to offer a wide and growing array of courses.
“My board has been supportive of the vision I’ve laid out and with that level of support, I was able to go out there on a platform of confidence to get other partners on board.”
Dequity Capital CEO Adrian Smith
Dequity Capital CEO Adrian Smith, who now joins the iCreate Board of Directors, explained why the firm has partnered with iCreate.
“Our philosophy is to search out business opportunities that others have overlooked or rejected on a risk basis where we see hidden value, and that is why we’re very excited to come on board with iCreate,” he said.
“With the combination of talent, professionalism and commitment, we are confident that this partnership will yield tremendous returns for all parties over the long term,” he added.
The new iCreate board director has amassed significant professional experience within Jamaica’s financial sector, having led various teams in both marketing and sales.
Through various positions and subsequent exposure, Smith has managed several accounts in excess of US$100 million and has been successful in raising over J$1 billion for two initial public offerings in the Jamaican stock market.
Incorporated in St Lucia, as an international business corporation, Dequity Capital Management Limited is a privately held investment company that invests in multiple market segments including financial services, health care, real estate, outdoor advertising, media and gaming technology.
Source: https://jamaica.loopnews.com/content/dequity-capital-makes-50-million-investment-icreate