Clairvest earns 8.2 x investment with MAG Aerospace sale

Canadian private equity firm Clairvest Group has sold its interest in MAG DS Corp (MAG Aerospace), a Fairfax, Virginia-based provider of operations, training and technical services and other specialty aviation enabling real-time situational awareness. No financial terms were disclosed for the deal, which saw MAG go to New Mountain Capital, a U.S. private equity firm. Clairvest, which acquired a minority stake in the company in 2013, said it realized cash proceeds equal to about US$110 million, representing 8.2 times invested capital. CEO Joe Fluet said Clairvest helped MAG grow "from a small, emerging company to a market leader in less than five years."

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