Clairvest to earn 92 pct IRR from sale of Cieslok Media to Bell
Canadian private equity firm Clairvest Group has sold its portfolio company Cieslok Media Ltd, a Toronto-based outdoor advertising business, to Bell Media Inc for an undisclosed sum. Clairvest, which partnered with Jörg Cieslok in a management buyout in 2013, said it realized cash proceeds equal to 7.8 times invested capital with the deal's closing. This could rise to 8.4 times invested capital with the resolution of certain post-closing matters, giving Clairvest an internal rate of return of 92 percent. Cieslok was Clairvest's first platform investment in the media space. Last year, Clairvest closed a second deal in the sector with its US$20.5 million investment in Digital Media Solutions.
3 January 2017•3 mins read
