Agreement to Sell BBGPI Including Imperial Parking

Carter Ledyard represented Babcock & Brown Gates Parking Investments LLC (BBGPI), which includes Imperial Parking Corporation, in its agreement to be acquired by The Ontario Teachers’ Pension Plan. The current transaction is expected to close in 2011 and is subject to regulatory approval. The terms of the transaction are not being disclosed.  Partners Andris J. Vizbaras, Howard J. Barnet, Jr., David I. Karabell, Austin D. Keyes, counsel Patricia Matzye, associates G. Christina Gray-Trefry, Richard N. Kim, Jayun Koo, Alison Powers Herman and summer associate Jennifer Einersen of Carter Ledyard & Milburn LLP served as lead counsel to BBGPI and Impark in this transaction.  
Impark, headquartered in Vancouver, B.C., is one of the largest parking management companies in North America. It currently leases or manages more than 2,000 parking locations, consisting of more than 400,000 parking spaces, in over 25 markets throughout Canada and the United States. 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.

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