Clairvest to take portfolio company Discovery Air private

Discovery Air Inc (TSX: DA.A), a portfolio company of Canadian private equity firm Clairvest Group, has agreed to be taken private by the investor. The deal, which has a total cash consideration of $1.5 million, will see Discovery Air become wholly-owned by Clairvest and members of the company's senior management team. More than 90 percent of shareholders have said they will vote in favour of the privatization. Toronto-based Discovery Air, a specialty aviation services provider led by President and CEO Jacob Shavit, secured a $70 million investment from Clairvest in 2011.

DealsCanadaNorth AmericaBriefs