Toronto, Canada (November 14, 2022) - Imperial Capital is pleased to announce that it has completed a successful continuation fund transaction with over US$1 billion in equity raised to continue its partnership with Gateway Services (“Gateway”) – a North American pet aftercare provider.
The transaction will extend Imperial Capital’s long-term partnership with Gateway’s exceptional team, which is well-situated to continue building on its position in the pet aftercare sector. The transaction provides liquidity to Imperial Capital Acquisition Fund V investors as well as the opportunity to partner alongside new investors led by ICG Strategic Equity – a specialist investor focusing on the GP-led secondaries market with over $12 billion of capital committed to-date.
“This transaction is a significant milestone for Imperial Capital in raising its first continuation fund and extending its partnership with one of our best performing investments,” said Justin MacCormack.
Imperial Capital originally partnered with Gateway in 2015 with its investment from Imperial Capital Acquisition Fund V. In the 7 years leading up to this transaction, Gateway grew from 4 Ontario locations to over 125 locations across the U.S. and Canada. Gateway’s success is driven by its exceptional focus on customer service through continuous innovation in service, products and technology. The pet aftercare industry is going through a transformative period as a result of the growing trend in the humanization of pets, and Gateway has a vision to continue leading innovation in the industry and meeting the growing demands of pet parents and veterinary customers.
"The Gateway team is excited to be able to continue to work with Imperial; it has been a fantastic partnership to-date and we remain fully aligned on our vision and strategy for the future,” said Scott Hunter, Founder and CEO of Gateway.
Evercore acted as the exclusive advisor to Imperial Capital, with financial and tax due diligence assistance provided by EY and Leo Berwick and legal work supported by Torys, Kirkland & Ellis and Miller Thomson.
For questions or queries please contact David Baker.
About Imperial Capital
Imperial Capital is a leading mid-market private equity firm with $4.6 billion of assets under management and focused on North American opportunities to build or acquire growth-oriented platform investments in targeted industry niches within healthcare, business services and consumer services industries. Based in Toronto, Imperial Capital combines its deep industry focus, active portfolio management and strong partnerships with experienced industry executives to offer a differentiated approach to investing. For further information on Imperial Capital, please visit www.imperialcap.com.
ICG provides flexible capital solutions to help companies develop and grow. We are a global alternative asset manager with over 30 years’ history, managing $68.5 billion of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
About ICG Strategic Equity
ICG Strategic Equity (“ICGSE”) is a specialist private equity investor focused exclusively on the GP-led secondaries market. Since launching in 2014, ICGSE has committed over $12 billion into some of the largest and most complex continuation vehicle secondary transactions globally. We back blue-chip financial sponsors to enable continued value creation in private equity assets, in transactions that also provide liquidity options for existing investors. Further details are available at www.icgam.com