Fengate Private Equity has acquired a minority interest in Grace Clinics Corp, a Burlington, Ontario-based provider of plastic and cosmetic surgeries, aesthetic procedures and medical-grade skincare. No financial terms were disclosed. Fengate Private Equity, a division of Canadian alternative investment firm Fengate Asset Management, made the investment on behalf of LiUNA Pension Fund of Central and Eastern Canada.
Fengate announces equity investment in GraceMed
TORONTO, Nov. 19, 2021 (GLOBE NEWSWIRE) — Fengate Private Equity (“Fengate”), a division of Fengate Asset Management, is pleased to announce it has completed a strategic minority equity investment in the Grace Clinics Corp. (“GraceMed”). Fengate’s investment in GraceMed was made on behalf of the LiUNA Pension Fund of Central and Eastern Canada. GraceMed’s management and existing shareholders will continue to retain a significant equity interest in the business.
Founded in 2019 by Dr. Douglas Grace, a renowned cosmetic surgeon with more than 18 years of experience, GraceMed has become a recognized leader in the fields of plastic and cosmetic surgery, dermatology, and medical aesthetics in Canada. GraceMed features an experienced team of world-class practitioners who provide clients with a comprehensive range of aesthetic procedures, medical-grade skincare, and cosmetic surgeries while utilizing the latest medical technology and techniques.
As a best-in-class, physician-led platform, GraceMed has become a “partner of choice” for operators across Canada’s fragmented cosmetic surgery and medical spa industries. GraceMed has quickly grown its clinic network of top-ranked locations across the GTA and Southwestern Ontario. The new investment partnership with Fengate will provide GraceMed with additional growth capital and strategic support.
“This strategic partnership aligns perfectly with our mission to support the needs and aspirations of growth-oriented entrepreneurs and businesses,” said Justin Catalano, Managing Director and Group Head of Fengate Private Equity. “We are pleased to be an investment partner to GraceMed and believe in Doug and his team. We are excited to work closely with GraceMed to accelerate the next stage of their growth.”
“Today’s announcement reflects the vision, hard work and unwavering commitment of always providing best in class service, safety and outcomes to our patients by our physicians, nurses, aestheticians and team at GraceMed.” said Dr. Douglas Grace, MD, FRCS(C), CEO and founder of GraceMed. “We are honoured to partner with Justin and his team at Fengate Private Equity. This strategic alliance will enable us to continue to pursue our vision of being Canada’s leading provider of Aesthetic Medicine.”
About Fengate Asset Management
Fengate is a leading alternative investment manager, with $5.8 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate leverages more than 45 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients. Fengate Private Equity, a division of Fengate Asset Management, is a differentiated investment platform supporting the growth ambitions of entrepreneurs through transformative capital. Learn more at fengate.com.
GraceMed is a Physician founded and lead corporation that includes an experienced team of world-class Plastic and Cosmetic Surgeons, Dermatologists, and MedSpa clinicians that provide a wide range of plastic and cosmetic surgeries, aesthetic procedures, and medical-grade skincare. GraceMed incorporates state-of-the-art technology with industry-leading procedures and service. Learn more at GraceMed.com
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and $10 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of alternative investments. Learn more at lpfcec.org.