Toronto-based Clairvest Group has promoted former principal Mitch Green to managing director.
Green joined Clairvest in 2002 and focuses primarily on investment origination, structuring and execution in sectors including the equipment rental industry, IT services and business services. He previously worked in leveraged finance at BNP Capital Markets and in corporate finance at Bank of America. Green’s promotion brings the total number of managing directors at Clairvest to five.
Green has acted as a director on Clairvest’s investments in employee benefits business Shepell fgi and IT services business PEER 1, which the firm sold for about C$80 million (€59 million; $80 million) in February, generating a 3.2x return multiple and 40 percent IRR. Clairvest invested roughly C$25 million in the company in 2009, using capital from its C$300 million Fund III that closed in 2006.
Clairvest’s fourth fund collected C$467 million in early 2011.
Led by co-chief executive officers and managing directors Jeff Parr and Ken Rotman, Clairvest focuses on mid-market companies in North America, in sectors including gaming, healthcare, equipment rental, oilfield services, waste management and defence, and has roughly C$1 billion of capital under management.