Impark Acquired by Ontario Teachers’ Pension Plan from Gates Group

CLEVELAND, Ohio — July 26, 2011 — Gates Group Capital Partners (Gates) announced today the Ontario Teachers' Pension Plan (Teachers') has entered into an agreement for the acquisition of Babcock & Brown Gates Parking Investments LLC (BBGPI), which includes Imperial Parking Corporation. Terms of the transaction are not being disclosed.

BBGPI, a joint venture between Gates Group Capital Partners, a Cleveland-based private equity firm, and London-based Global Partners Fund, acquired Impark in 2006. The current transaction, which is expected to close in 2011 and is subject to regulatory approval, was led by Teachers' Long-Term Equities group, which is focused on direct investments that have steady cash flow and growth potential over a long-term horizon and a low to moderate level of risk.

"We are extremely optimistic about the benefits of Teachers' investment," said Allan Copping, CEO of Impark. "The new partnership with Teachers' will allow Impark to further invest in the technology, processes and people that enable us to deliver innovative parking solutions to our clients and customers. As Impark enters its 50th year, the company is well positioned to develop its core strengths and continue its sustainable growth."

Blackstone Advisory Partners acted as exclusive financial advisor to Impark on this transaction.

For more information on Gates Group Capital Partners, visit www.gatesgroupcp.com.

About Gates Group Capital Partners
Founded in 2002, Gates Group Capital Partners is a Cleveland, Ohio-based private investment firm that invests in the North American parking and transportation industries through a family of independently operated funds, including Parking Real Estate Fund II, LP; Parking Management Fund II, LP; and Babcock & Brown Parking Management Fund I, LP. Total capital under management is in excess of $250 million.

About Imperial Parking Corporation
Headquartered in Vancouver, British Columbia, Canada, Impark is one of the largest parking management companies in North America and currently leases or manages in excess of 2,000 parking locations, consisting of more than 400,000 parking spaces, in over 25 markets throughout Canada and the United States.

For additional information, please contact:
Jeffrey Guffey
Vice President & Chief Financial Officer
jguffey@gatesgroupcp.com
(440) 684-9900 x 15