Corporate Strategic Advisors

Stephen Lister is Chairman of CPS Capital Inc., a Canadian Private Equity firm focused on building small-cap companies in targeted industry niches in North America, and which is investing Fund V. He is also Chairman & Co-Founder of Private Debt partners Inc., a provider of senior credit to select Canadian mid-market companies, which is investing its second Fund.  Through his family office, JMB Capital Corp., Mr. Lister invests in and advises emerging entrepreneurial companies in profitable niches in private asset management and makes direct investments in the best emerging companies and private funds in a variety of growth industries.

Mr. Lister was a Managing Partner and Co-Founder (1989-2019) of Imperial Capital Corporation (IC), a Toronto-based mid-market private equity buyout firm which made acquisitions in the United States and Canada. Mr. Lister was integrally involved in the formation and investment of Imperial Capital Acquisition Funds I through VII.  Imperial’s Funds grew from $2.7 million for Fund I to $1.2 billion for Fund VIII. Portfolio companies have included: one of Canada’s largest engineering consulting firms (Stantec), the largest dental practice management company in Canada (Dental Corp); the largest Canadian vet practice manager (VetStrategy); North America’s largest pet aftercare company (Gateway); America’s second largest patient records manager (MRO); a vet clinic practice management firm in the USA (AmeriVet); a consolidator of food testing labs (Matrix Sciences); a consolidator of pharmaceutical testing labs (Infinity Labs); one of the largest car wash companies in America (Go Carwash) and an optometry clinic management company (Keplr Vision). Imperial specialized in assisting successful entrepreneurs in consolidating fragmented industries and scaling companies that have low-to-no cyclicality, superior profitability, and strong growth. Mr. Lister led the acquisition and stewardship of many of IC’s portfolio companies. He has assisted the management teams with the strategic direction and growth of these businesses, including follow-on acquisitions and related financings. Mr. Lister has been a Director of a number of private and public companies.

From 1987-89, Mr. Lister was President of Startups Inc., which he founded to provide equity financing and consulting assistance to high growth companies. In 1987, he was an Associate with Harrison Associates, a Toronto consulting firm. From 1985-87, he was a Management Consultant with Touche Ross & Partners in Toronto, where he provided strategic planning services to companies internationally. From 1982-84, he was an economist with the House of Commons, where he wrote economic policy papers for members of Parliament.

Mr. Lister received an Honours BA in Economics from the University of Toronto in 1982 and an MBA from the IVEY Business School at Western University in 1985. He attended Lisgar Collegiate Institute in Ottawa. Mr. Lister is a member and a Past President of the Ticker Club, and a member of The Young Presidents Organization, Chief Executives Organization, The Toronto Club, Cambridge Club, Lake Joseph Club (Muskoka, Ontario), The Royal & Ancient Golf Club (Scotland), The Cabot St. Lucia Point Hardy Golf Club (founding member), Grey Oaks Golf Club (Naples, FL), Oviinbyrd Golf Club (Muskoka, Ontario) and the Eden Club (Scotland). He is a member of the Investment Committee for Victoria College at the University of Toronto, an Advisory Board Member and Executive Board Member of the Ivey Business School, a member of the Finance Committee at Grey Oaks Golf Club, a Director of the Canadian Institute for Advanced Research (CIFAR), and a former Director of the Royal Conservatory of Music, the Toronto Symphony Orchestra, and the Michael Garron Hospital Foundation.

He is married (1985) to Dr. Molly Rundle, a former family Physician. They have two sons: Jonathan Lister, President & Founder of Satstreet Inc.; and Benjamin Lister, an entrepreneur in the wellness industry. Mr. Lister and his wife support many charities directly and through the Lister-Rundle Foundation. He is a member of the Canadian Ski Instructors Alliance, plays the tenor saxophone, competitive amateur golf, collects art and biographies, and is a fitness and wellness enthusiast.