PELOTON CAPITAL MANAGEMENT COMPLETES FIRST CLOSING OF PCM FUND II, ANNOUNCES LATEST INVESTMENT PARTNERSHIP

BIG

TORONTO – December 21, 2022 – Peloton Capital Management (PCM), a Canadian private equity firm with a long-term approach to middle-market buyouts in the North American market, today announced the first close of PCM’s second fund (PCM Fund II) with C$425M in aggregate commitments. The close takes PCM to more than 65% of its fundraising target and enables the firm to continue its strategy of investing in multi-location services businesses in the U.S. and Canada. In addition to continued foundational support from Stephen Smith, Chairman of PCM, the firm received commitments from a number of leading institutional investors, financial institutions, and family offices.

“We appreciate the continued support of our top-tier group of investors and the vote of confidence in our team, our strategy and our efforts to date,” said Steve Faraone, Managing Partner of PCM. “We are grateful for the trust our limited partners have placed in us and we will continue to work hard to generate outstanding results for them.”

The first closing of PCM Fund II was shortly followed by the signing of PCM’s latest investment partnership with Billyard Insurance Group (BIG). Headquartered in Welland, Ontario, BIG is a fast-growing and multiple-award-winning independent insurance broker with over 70 locations across Canada. Capital provided by PCM will support BIG’s continued expansion and further strengthen the innovative tools, technology and training offered to its industry-leading broker partners.

“Insurance distribution is a space that the PCM team knows very well, and we have been searching for a Canadian platform to back for some time,” said Mike Murray, Managing Partner of PCM. “Stephen Billyard and his team have built an exceptional business in BIG, and we are honoured to be chosen as their partner as they look to take the platform to the next level.”

“Having the right capital partners is incredibly important when growing an organization,” said Stephen Billyard, President and Founder at BIG. “The PCM team brings deep sector expertise and a track record for successfully partnering with innovative companies like BIG to drive growth and create value. We are excited to join forces with them as we embark on our next phase of growth.”

About Billyard Insurance Group

Billyard Insurance Group is an independent and award-winning Canadian insurance brokerage. Their holistic approach to insurance ensures their clients receive the best coverage for home insurance, auto insurance, commercial insurance, travel insurance, pet insurance, life insurance, and financial planning services. In recent years, BIG has witnessed exponential growth, with President Stephen Billyard and his team paving the way for growth and innovation. What started as a local, family-run brokerage in Welland, Ontario, has now expanded to over 70 branches across Alberta, New Brunswick, Nova Scotia, and Ontario. Their growth strategy is fueled by a vision to acquire top talent by providing industry-leading training, technology, and broker support.

About Peloton Capital Management

Peloton Capital Management is a private equity firm that utilizes a long-term investment philosophy and sector-focused strategy to partner with founders and management teams to help build exceptional businesses and create attractive returns for our investors.  PCM’s primary focus is investing in multi-site services businesses within the Healthcare, Financial and Consumer verticals in North America.  Headquartered in Toronto, Canada, Peloton was founded and is led by a team with extensive private equity experience. For more information please visit: pelotoncapitalmanagement.com.

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